Ocwen Financial had a rough 2014, but officials at the nonbank suggest the company will be profitable in 2015 and beyond. Ocwen faces a number of outstanding issues, including questions from an independent auditor regarding the nonbank’s ability to operate as a going concern. Ocwen reported a preliminary net loss of $546.29 million in 2014 compared with net income of $310.42 million in 2013. Officials at the nonbank said the loss for 2014 incorporates the impact of ...
The Federal Home Loan Bank of New York and MAX Exchange announced a pilot program that will allow members of the New York FHLBank to sell jumbo whole loans on an open exchange platform. MAX Exchange is a peer-to-peer trading platform and clearing house for mortgages. The pilot program will include a limited number of pre-approved traditional secondary mortgage investors and a limited number of New York FHLBank members ... [Includes six briefs]
Mortgage brokers played an increasingly important role in the conventional conforming market during the first quarter of 2015, according to a new Inside Mortgage Trends analysis of mortgage-backed securities issued by Fannie Mae and Freddie Mac. Mortgage brokers were responsible for $23.8 billion of single-family mortgages securitized by the two government-sponsored enterprises during the first three months of this year. That was up 16.0 percent ... [Includes two data charts]
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