Disconnect Between Mortgage Industry and Obama Administration on Priority of GSE Reform March 3, 2015 Brandon Ivey With little non-agency MBS issuance, Collingwood noted that it’s difficult to accurately price credit risk. Read More
A ‘Bank’ Is Buying Ocwen’s $45 Billion Package of Fannie Mae Servicing Rights March 3, 2015 Paul Muolo The identity of the bank could not be confirmed at press time...Read More
Although Fannie and Freddie are Shrinking, Staffing Levels Hold Steady March 3, 2015 Brandon Ivey Freddie had 4,957 full-time employees and 50 part-timers as of Feb. 5, down 2.1 percent compared to a year ago.Read More
Freddie Mac Sells $392 Million of Seriously Delinquent Loans to Pretium and Bayview March 3, 2015 Carisa Chappell Pretium won pools one and two, which have a combined loan balance of $238.6 million.Read More
Short Takes: HLSS Wants an Extension Too / What’s Behind Ocwen’s Goodwill Charge? / Stewart Title Headed to the Auction Block? / FHFA’s NPL Guidelines Expected? / Ben Lawsky Has Not Gone Home Yet March 3, 2015 Carisa Chappell and Paul Muolo Meanwhile, Ocwen watchers are scratching their heads over a fourth quarter goodwill charge that eventually could reach $420 million...Read More
Dragged Down by the Nonbanks, Mortgage Banking Income Slipped in 4Q March 2, 2015 John Bancroft For all of 2014, this group of banks and nonbanks earned $14.01 billion off of mortgages, a 39.6 percent drop from the year before.Read More
Ocwen’s Servicing Sales: A ‘Controlled Liquidation’? March 2, 2015 Paul Muolo A spokesman for Ocwen declined to comment on the “controlled liquidation” characterization and could offer no time table on when the lender/servicer might release its fourth quarter results.Read More
Don’t Even Think of Basing LO Compensation on Loan Terms March 2, 2015 Thomas Ressler Kristie Kully of K&L Gates discussed how the rule treats issues related to splitting commissions, a subject her firm gets a lot of questions about...Read More
Fortress-Controlled Nationstar Files a $1 Billion Shelf for Debt, Stock and More March 2, 2015 Paul Muolo Nationstar is 74 percent owned by hedge fund giant Fortress Investment Group.Read More
Phoenix Offering Flow Deal That Could Yield $3.6 Billion of Product March 2, 2015 Paul Muolo Eventually, the seller may offer $500 million per month in GSE product or $6 billion per year.Read More