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Next Up: Who Will Buy Ocwen’s Agency MSRs? Pingora?

December 24, 2014
Paul Muolo
“We tend to look at most everything if it is mainly performing and is 2010 or later vintage agency product," said Pingora CEO Michael Lau.
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Short Takes: SEC Critical of Rating Agency / Mortgage Vendor Black Knight Unveils IPO / Warehouse Rates Too Good to Be True? / Stonegate Expands Non-Agency Menu / IMFnews (Short) Publishing Break

December 24, 2014
Paul Muolo and Brandon Ivey
We continue to hear reports about a new player in the warehouse lending space that is offering attractive borrowing rates that appear too good to be true.
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Outlook 2015: The CFPB Will Face the (GOP) Music; Dodd-Frank Tweaks?

December 23, 2014
Thomas Ressler
Republicans also will try to subject the CFPB’s budget to the congressional appropriations process.
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Ocwen to Sell GSE Servicing Rights – But Not in ‘Bulk’

December 23, 2014
Brandon Ivey
Ocwen officials said the sale of agency receivables has the potential to free-up more than $1.7 billion of capital for the company.
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The Ocwen Stock Carnage: Investors Lost $1.13 Billion in Just One Day

December 23, 2014
Paul Muolo
Meanwhile, stock analysts who were once bullish on Ocwen are now taking out their knives, downgrading or slamming the once high-flying company.
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Short Takes: Impac and CashCall? / MBA on a Membership Roll / Bill Erbey Reflects / Bill Erbey, the Sacrificial Lamb? / The First-Ever Merger of Two Housing GSEs

December 23, 2014
Paul Muolo and Brandon Ivey
Associates of Erbey told IMFnews that he knew several weeks ago that he would be stepping down from the company and viewed himself as a sacrificial lamb of sorts…
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Ocwen Settles with NYDFS for $150 Million; Erbey Out as Exec Chairman; Is Faris Next?

December 22, 2014
Paul Muolo
But Erbey's resignation may not be enough for analysts and investors who have seen the value of Ocwen’s stock plummet the past year.
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Single-Family Rental Investors Sitting on Large Gains: RealtyTrac

December 22, 2014
Sherry Muolo
The nascent single family rental industry is at a crossroads in terms of future growth and long-term staying power...
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An Ocwen Massacre: Stock Crushed, Firm Cannot Buy MSRs Without Regulatory Approval, Erbey Out at Several Ocwen-Related Companies

December 22, 2014
Paul Muolo
One analyst, Farukh Farooqi of Marquis Research, told IMFnews that Ocwen’s board should consider dumping CEO Ron Faris. “I mean where does the buck stop?” Farooqi said.
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Short Takes: Thanks to Ocwen, Most Mortgage Stocks Suffer / ASPS Hammered Too / Skyline Reveals Investors / DBRS Sold / FHFA Worries About Lien Priorities

December 22, 2014
Paul Muolo and Brandon Ivey
Skyline said it raised $18 million in equity and debt from Ellington along with Upfront Ventures and Dallas Capital Management.
Read More
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