In settling, S&P did not admit or deny any of the allegations levied against the firm.

Regarding Altisource, the phrase “catch a falling knife” comes to mind. Cooperman is the Chairman and CEO of Omega Advisors…

The separation agreement prohibits the mortgage industry veteran from competing with Ocwen for at least 24 months.

A recent report from Barclays found that Ocwen is the servicer on $500 million worth of eligible deals where the collateral value is above 107.

Issuers of non-agency MBS finished 2014 with a flourish, as production totaled $10.63 billion in the fourth quarter, according to a new Inside MBS & ABS analysis and ranking. But despite a 4.1 percent gain during the fourth quarter, 2014’s total issuance of $35.14 billion came up 9.6 percent short of the total for 2013. The only sector that showed any growth last year was the scratch-and-dent market, where issuance was up 17.6 percent from 2013. In fact, securitization of nonperforming and re-performing mortgages accounted for...[Includes three data charts]

Even though modified loans represent a larger share of non-agency MBS trusts these days, structured product analysts at Wells Fargo Securities have detected a notable year-over-year decrease in modifications. To be sure, modified loans have become an increasing portion of such trusts lately. “About 62 percent of subprime in terms of [unpaid principal balance] has been modified, 39 percent of option adjustable-rate mortgages, 31 percent of Alt A, and 19 percent of prime,” the analysts reported. “Modification activity, however, has slowed down...

Risk weights established by the Basel Committee on Banking Supervision for holdings of securitized assets won’t have much of an impact on U.S. banks, according to analysts at Barclays Capital. It’s unclear which banks the risk weights will be applied to and many U.S. banks have transitioned to similar methods to evaluate capital requirements for their holdings of MBS and ABS. The BCBS issued a revised framework for calculating risk weights on banks’ securitization exposures in December. The framework is set to take effect in certain countries beginning in 2018. It was issued to address concerns that banks were holding insufficient capital for certain securitized assets and to reduce the reliance on external ratings to derive securitization risk weights. Barclays said...

The Federal Housing Finance Agency will unveil nonbank capital guidelines for servicers by mid-year. Also on the docket: Changes to loan level price adjustments..

Securitization of nonperforming and re-performing mortgages accounted for just over half of total non-agency MBS production in 2014.

Ocwen’s lack of cooperation regarding documents led the agency’s commissioner to issue a subpoena “duces tecum,” which is essentially a court summons.