After the end of the first quarter, PennyMac acquired a bulk portfolio of Ginnie Mae mortgage servicing rights with an unpaid principal balance of $4.30 billion.
The FHFA was created in part because its predecessor, the Office of Federal Housing Enterprise Oversight, was widely seen as lacking enough independence to adequately oversee the GSEs...
The updraft in mortgage interest rates following the November election has bolstered the secondary market in mortgage servicing rights, and business could quicken even more if independent mortgage bankers feel profit pressure from declining margins, according to industry experts. There are more bidders in the market than last year, said David Bennett, a managing director at MountainView Capital Holdings, during a panel session at this week’s secondary market conference ...
Democrats unsuccessfully pushed amendments that would try to keep President Trump, anyone in his administration or any of his businesses from benefitting from any provision in H.R. 10.
Can the financially troubled and regulator-challenged Ocwen Financial survive? It’s not an unfair question given its most recent travails and this week’s news that it struck a $425.0 million transaction “in principle” to sell some of the cash flows on $117 billion in mostly non-agency servicing rights to New Residential Investment Corp. As the weekend approached, analysts that follow the company were speculating that Ocwen is going through what looks like a controlled liquidation, selling off assets – mostly the cash flow stream on its servicing portfolio – and buying time while it fights regulatory sanctions in 31 states. The company is...
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