Commenting on the latest revelation from Walter, Keefe, Bruyette & Woods said, “Given the lack of visibility, we maintain our underperform rating and $1 price target.”
In the lawsuit, Ocwen admitted that it had stopped paying some of the invoices sent to it by FIS because of what it called “improper and non-compliant billing practices…
“Even with optimal outcomes agreed by all parties in a typical three- to five-year contract, public and private company CEOs find themselves constantly under the ‘results’ microscope," said consultant Paul Hindman.
Recent remarks by Craig Phillips, counselor to the secretary of the Treasury Department, suggest that the Trump administration supports proposals to reduce regulatory burdens in the MBS and ABS markets. The agency is in the process of finding regulations that can be “clarified, modified or tailored” to help boost the housing market. “We believe it’s time to assess whether regulatory requirements have unnecessarily tightened the credit box for new originations,” Phillips said at a credit-risk transfer symposium in New York City. “Regulatory requirements have also contributed to increased cost in servicing. Capital and liquidity standards have put private-label securitization at a disadvantage.” The Structured Finance Industry Group noted...
Fannie Mae and Freddie Mac both announced new re-performing loan sale transactions this month as the two government-sponsored enterprises look for ways to shed illiquid assets. Fannie began marketing its first re-performing loan sale back in November to help reduce its balance sheet. The program continues to gain more traction with each sale. That first sale totaled $789.2 million in unpaid principal balance. Fannie has since announced...
RSS