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More Law Firms Announce ‘Investigations’ Into Ocwen

December 29, 2014
Paul Muolo
The latest entry into the Ocwen legal sweepstakes is Lifshitz & Miller, Garden City, NY, whose specialties include class action lawsuits.
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Banks Increase Holdings of First Liens Ever So Slightly

December 24, 2014
Brandon Ivey
Wells Fargo and JPMorgan Chase increased their first-lien holdings compared to 3Q 2013 while Bank of America and Citigroup experienced a decline.
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Five Oaks, Credit Suisse Team Up on New Jumbo MBS

December 24, 2014
Brandon Ivey
The new jumbo MBS from Five Oaks includes representations and warranties that do not sunset.
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Short Takes: SEC Critical of Rating Agency / Mortgage Vendor Black Knight Unveils IPO / Warehouse Rates Too Good to Be True? / Stonegate Expands Non-Agency Menu / IMFnews (Short) Publishing Break

December 24, 2014
Brandon Ivey and Paul Muolo
We continue to hear reports about a new player in the warehouse lending space that is offering attractive borrowing rates that appear too good to be true.
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Final Jumbo MBS Tally for 2015 Likely Will Top $9 Billion

December 23, 2014
Brandon Ivey
Industry observers believe underwriting standards on mortgages in jumbo MBS will continue to loosen, which might weaken investor confidence.
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Short Takes: Impac and CashCall? / MBA on a Membership Roll / Bill Erbey Reflects / Bill Erbey, the Sacrificial Lamb? / The First-Ever Merger of Two Housing GSEs

December 23, 2014
Brandon Ivey and Paul Muolo
Associates of Erbey told IMFnews that he knew several weeks ago that he would be stepping down from the company and viewed himself as a sacrificial lamb of sorts…
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Ocwen Settles with NYDFS for $150 Million; Erbey Out as Exec Chairman; Is Faris Next?

December 22, 2014
Paul Muolo
But Erbey's resignation may not be enough for analysts and investors who have seen the value of Ocwen’s stock plummet the past year.
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Interest-Only Originations Are Down but Not Entirely Out

December 22, 2014
Brandon Ivey
PHH Mortgage was the top-ranked IO lender, with $9.51 billion in such originations through three quarters in 2014.
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Single-Family Rental Investors Sitting on Large Gains: RealtyTrac

December 22, 2014
Sherry Muolo
The nascent single family rental industry is at a crossroads in terms of future growth and long-term staying power...
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An Ocwen Massacre: Stock Crushed, Firm Cannot Buy MSRs Without Regulatory Approval, Erbey Out at Several Ocwen-Related Companies

December 22, 2014
Paul Muolo
One analyst, Farukh Farooqi of Marquis Research, told IMFnews that Ocwen’s board should consider dumping CEO Ron Faris. “I mean where does the buck stop?” Farooqi said.
Read More
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