In the new “Mortgage Professional’s Handbook,” residential finance technology expert Jeff Lebowitz predicts the industry “is about to exit its Victorian era of technology use."
Ocwen continues to face regulatory issues, including constraints on growth via acquisitions. However, Fitch recently upgraded a number of the firm’s servicer ratings from a level 4 to a level 3-minus with a “stable” outlook.
As IMFnews went to press Monday, investors were once again punishing the stock, with shares trading down 20 percent on the day to $4.95. Its all-time high is $60 a share.
Ditech increased its servicing portfolio to $266.7 billion from $265.4 billion in 3Q, and said it is pursuing “potential business opportunities,” including plans to pursue more subservicing contracts.
Fannie Mae has been actively buying delinquent mortgages out of MBS trusts and plans to eventually issue securities collateralized by the loans, said Timothy Mayopoulos, CEO of the government-sponsored enterprise. During a recent earnings call and question-and-answer period with the press, the CEO noted that the GSE has bought a “substantial” number of mortgages out of trusts with the goal of making them performing again. “Over the next year or two,” Fannie will...