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 …"
In a conference call with reporters Friday morning, Fannie CEO Tim Mayopoulos noted: “While we expect to remain profitable on an annual basis for the foreseeable future, due to our declining and limited capital reserves and the potential for significant volatility in our financial results, we could experience a net worth deficit in a future quarter.”
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