Officials in the financial services sector are making a fresh push to alert the mortgage and residential mortgage-backed securities industries to the potential pitfalls that delinquent homeowner association accounts pose for them. The securitization industry has little understanding of homeowner and other types of community associations, collectively referred to as HOAs, said Jason Serrano, co-head of structured products and managing director for securities at Oak Hill Advisors ...
Ever since Taylor Bean & Whitaker went down in flames a few years ago, the market for loans backed by mortgage servicing rights has been dormant with the nations largest banks pulling out of the business and vowing never to return. But now that MSRs are considered a hot investment with nonbanks such as Nationstar Mortgage, Ocwen Financial and Walter Investment Management gobbling up billions of dollars in receivables the past few years and at bargain basement prices banks, Wall Street firms, and other players are eyeing the market for a major comeback. According to servicing advisors and warehouse firms, there are...