Consequently, top-tier banks that offered FHA-insured mortgages have opted to either restrict their government business or exit the program altogether…
Market watchers must be wondering just how long investors will continue to believe in the GSE “bet” made by hedge fund manager Pershing Square Capital Management.
“This is a fair and just settlement for California consumers,” said CDBO Commissioner Jan Lynn Owen. “The terms will hold Ocwen accountable for widespread violations of laws that harmed borrowers in our state.”
David Stevens, MBA president and chief executive officer, said the FHA’s newer books of business have great credit quality, which makes the spike in 30-day delinquencies more surprising.
Writing for the majority, the Appeals Court notes: “We hold that the stockholders’ statutory claims are barred by the Recovery Act’s strict limitation on judicial review …"
“If Cordray were engaged in malfeasance, inefficiency or neglect of duty, don’t you think the Obama administration would have done something about that?” asked one legal scholar.
Late last decade Altisource was spun-off from Ocwen, a once large servicer that in years past had been sanctioned by regulators for some of its servicing practices.
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