Ocwen Financial’s massive exit from the agency servicing market is expected to be a multi-year phase-out complicated by its past regulatory problems and a weak market for legacy product, according to industry advisors. If the company follows through on its promise to exit all segments of the agency market – Fannie Mae, Freddie Mac and Ginnie Mae – it will wind up selling a hefty $182.51 billion of residential mortgage servicing rights, based on third quarter survey numbers submitted to Inside Mortgage Finance. At Sept. 30, the nonbank serviced...

Molly Boesel, a senior economist at CoreLogic, said mortgages originated in the past four years are among the most pristine loans made in the past two decades.

The National Association of Realtors recently estimated that in 2014, nearly 234,000 creditworthy borrowers were priced out of the housing market because of high FHA insurance premiums.

MBA's Stevens believes that making a change in the PSPAs would not go over very well in a Republican-controlled House and Senate.

Potential actions by regulators also give non-agency MBS investors cause for concern.

Mortgage brokers originated 21.3 percent of Golden State mortgages during the first nine months of the year...

In 3Q the top seller of mortgages into the secondary market was Wells Fargo with $39.29 billion, a 12.7 percent sequential improvement.

SunTrust wouldn’t comment on the charge other than to note that the issue has been previously disclosed.

MountainView did not identify the company selling the servicing rights except to say it is a “well capitalized servicer.”

Who knows, maybe Mel Watt will allow Fannie and Freddie to build retained earnings. (Don’t bet on it, but it’s an issue worth debating.)