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Ocwen Settles Servicing Disputes with Two More States

October 12, 2017
Thomas Ressler
In all of these agreements, Ocwen neither admitted nor denied liability…
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Short Takes: Residential Production Plunges at Citi / MSR Holdings Down Too / But a Nice Profit for 3Q17 / JPMorgan Readies New Non-Agency MBS / Ocwen Exiting Wholesale Channel / Fannie Announces New NPL Auctions

October 12, 2017
Brandon Ivey and Paul Muolo
Citi’s third-party servicing portfolio is down to $49.1 billion from $147.6 billion at Sept. 30, 2016...
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Widespread Defaults Predicted for Vintage HELOCs Didn’t Happen; Performance Helped by Price Gains

October 12, 2017
Federal regulators and industry analysts raised concerns that defaults would spike once pre-crisis home-equity lines of credit hit their amortization periods. Those fears didn’t come to pass as vintage HELOCs have performed well, thanks to home-price appreciation and low interest rates. Pre-crisis HELOCs typically had interest-only periods for the first 10 years then switch to fully amortizing or required a full payment as part of a balloon feature. According to a 2015 report by the Office of the Currency ...
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Did the Department of Justice Ever Opine in the CFPB Case? Hard to Say…

October 10, 2017
Thomas Ressler
No one’s talking, and there’s been no indication that the DOJ has even filed a brief in the Ocwen case…
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Demand for RPLs Strong; Chimera Issues First Deal, MetLife is Ready

October 6, 2017
Brandon Ivey
MetLife said a number of new investors have started buying RPLs in recent years. And even with the strong demand, it’s still a market that offers relatively attractive returns…
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MBS Issuance Up Solidly in 3Q17, but ABS Production Weakened

October 6, 2017
John Bancroft
The GSEs and Ginnie Mae remain the dominant forces in the MBS/ABS market. Their combined single-family issuance hit $346.98 billion in 3Q17…
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Treasury Answers Trump’s Call on Looser Regs, Floats Ideas for MBS and ABS Markets

October 6, 2017
Brandon Ivey
The capital and liquidity requirements targeted by Treasury were largely established by the Basel III accords and the Dodd-Frank Act…
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Ocwen Financial Hires Wall Street Veteran Chris Whalen

October 5, 2017
Paul Muolo
Early last year Whalen predicted the nation’s four largest commercial banks might exit the business of residential lending and servicing…
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Short Takes: Deal Makers Bolt Houlihan for Hovde / ThomaLee Buys Controlling Stake in Ten-X / SoFi Reaches Out to Baseball Fans / It Had to Happen Eventually: ‘Crowd Funding’ for a Downpayment / CA VP Victim in Las Vegas Shooting

October 5, 2017
Paul Muolo
Houlihan as been a major player in mortgage-related deals ever since it purchased Milestone Partners earlier in the decade…
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Trouble in IO Land? 1H17 Production Down Almost 20 Percent

October 4, 2017
Brandon Ivey
First Republic Bank originated $1.90 billion of IOs in the second quarter of 2017, ranking first nationwide.
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