Compared to March 2017, the combined nonbank servicing business was up 14.7 percent, while banks in the top 50 saw a 2.4 percent decline from a year ago.
Ocwen has tried to mend its ways, noting in the new report: “We have now resolved all of the state cease and desist orders (but not all of the legal actions) taken against us….”
Due to temporary standards established by the CFPB, mortgages eligible for sale to the GSEs are treated as qualified mortgages even if they have higher debt-to-income ratios that would otherwise make them non-QMs…