The Securities and Exchange Commission announced on Wednesday that Ocwen Financial agreed to a $2.0 million settlement. The agreement covers misstatements of financial results due to a “flawed” methodology to value mortgage servicing rights and conflict-of-interest issues involving William Erbey, the former executive chairman of Ocwen. “Ocwen released inaccurate financial statements because its internal controls were inadequate and its audit committee failed to scrutinize ...

A&D Mortgage recently started offering non-qualified mortgages on a wholesale basis via mortgage brokers. The lender, whose originations are focused in southern Florida, noted that its underwriting for the loans includes “limited income and asset documentation” including options for stated income and stated assets. A&D offers non-QMs aimed at investors and foreign nationals. The lender said the loans are typically for non-owner-occupied ... [Includes four briefs]

Citadel serviced roughly $375 million of non-prime, non-agency mortgages at yearend, a three-fold increase from the year before...

Analysts continue to believe that PHH's shares are undervalued based on “book” price…

Bowing to pressure from investors – in particular, Carl Icahn – American International Group this week rolled out a blueprint to increase shareholder value, including a partial spin-off of its top-ranked mortgage insurance division, United Guaranty Corp. Although both AIG and UGC were not entertaining questions on the details, a spinoff of the MI business could come by mid-year with up to 19.9 percent of the unit being sold to the public. Eventually, AIG said...

The publicly traded nonbank also will consider donating REO to the city...

Loan amounts of up to $2.0 million are allowed under the program, though in certain cases A&D will go as high as $5.0 million.

Four of the top five ABS issuers in 2015 were closely linked to the auto industry, including the most productive issuer in the market, Ford Motor Credit.

Goldman Sachs last week announced it has agreed to a $5.1 billion settlement, the largest regulatory penalty in the firm’s history, concluding an investigation brought by the Residential MBS Working Group of the U.S. Financial Fraud Enforcement Task Force. The agreement in principle is poised to resolve actual and potential civil claims by the U.S. Department of Justice, the New York and Illinois attorneys general, the National Credit Union Administration (as conservator for several failed credit unions) and the Federal Home Loan Banks of Chicago and Seattle. At issue are...

According to a memo from Barclays CEO Tom King, “As a result, we will no longer offer residential loan trading, GNMA CMBS or CMO products.”