A few years back, Pinto and AEI unveiled a new mortgage product called the Wealth Building Home Loan, which was intended to provide an affordable mortgage option for low- and middle-income borrowers.
Acting Ginnie Mae President Michael Bright: “If they don’t have money to make principal and interest payments to investors every 20th day of the month, then Ginnie MBS are in trouble.”
Ocwen disclosed this warning: “Non-compliance with the laws and regulations of India or the Philippines could result in restrictions on our operations in these countries, fines, penalties or sanctions or reputational damage.”
Ocwen Financial midweek agreed to buy PHH Corp. for roughly $360 million in cash, a deal that caught the market by surprise and has analysts and advisors wondering whether two money-losing lender/servicers can make a go of it in a tough origination market.
Warehouse providers ended 2017 with an estimated $67.0 billion of commitments on their books, flat compared to the prior quarter and a sign that growth in the sector, at least for now, is taking a respite in the wake of higher interest rates.
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