Nevada was the leader in underwater homes with 24.2 percent of mortgaged properties in a negative equity position.

The report from WalletHub compares the cost of FHA and private MI from 2008 through 2014 – before the recent 50 basis points cut in FHA premiums...

Will Ocwen Financial get compensated for the termination?

Texas is well represented in the bulk package being offered by Phoenix Capital.

The captive insurer is owned by a REIT, a spokeswoman for the district bank said, but declined to name either.

Over the past few years, 482 of Ocwen’s deals have experienced breaches, but the trustee generally did not seek termination of the servicing contract.

The representations and warranties used in jumbo MBS can sufficiently handle some breaches but fail to completely protect investors, according to Moody’s Investors Service. In a report released this week, the rating service noted that issuers use two main varieties of reps and warrants: those that allow for an open-ended review of loans and those that employ a prescriptive framework. The open-ended reviews are seen in jumbo MBS from Redwood Trust, WinWater Home Mortgage and others...

The planned transfer of servicing on two non-agency MBS from Ocwen Financial to Select Portfolio Servicing marks the first time in recent years that Ocwen will lose servicing due to a vote by investors. Analysts at Moody’s Investors Service said the servicing transfer on two deals issued by Barclays Capital in 2006 “set a negative precedent” for Ocwen. The transfer was prompted by a vote by investors in the non-agency MBS that came about because Ocwen experienced an event of default due to recent downgrades to the firm’s servicer ratings. “While most of Ocwen’s portfolio has not experienced [defaults based on servicer quality] that would allow for forced transfer, around 695 transactions do have...

Sources contend that Nationstar Mortgage has ceased bidding on flow deals, preferring to shop for bargains in the conventional bulk market.

This mortgage manager estimates a “good” LO works 50 to 70 hours a week…