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Surprise: Ocwen Earns a Profit for 3Q16, but Revenue Slips While Company Cites Unpaid Settlements

October 26, 2016
Brandon Ivey and Paul Muolo
Ocwen, which in the past has been sanctioned by regulators for some of it servicing practices, also disclosed $10.0 million of additional reserves for a potential California regulatory settlement and $7.0 million of incremental reserves for a previously disclosed letter dating issue.
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Realty Giant RE/MAX Launches Mortgage Brokerage Franchise. The Concept: One-Stop Shopping

October 25, 2016
Brandon Ivey
Pairing real estate agents with loan brokers? RESPA attorneys start your engines...
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An Almost 10 Percent Gain in Originations for Flagstar

October 25, 2016
Paul Muolo
At Flagstar, refinances accounted for 57.6 percent of originations compared to 54.2 percent in the second quarter.
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A Milestone: Nonbanks Now Control 51 Percent-Plus of Ginnie Mae Servicing Market

October 25, 2016
John Bancroft
But there is one caveat: The VA sector is one business from which banks are not yet running away from…
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MBS Trading Volume Hit Yearly High in September. Improved Liquidity?

October 25, 2016
Paul Muolo
“Agency MBS prepayment speeds slowed in September, but they still hover near the multi-year highs reached last month,” according to a report from Keefe, Bruyette & Woods.
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Incenter Offers Flow and Bulk Deals That Could Top $3 Billion

October 25, 2016
Paul Muolo
With rates creeping up, more MSR packages should hit the auction block…
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Short Takes: PHH Losing Employees? / Lenders Left Out in the Cold on Front-End Risk Sharing / RESPA Attorneys, Start Your Engines / Will the CFPB Review It? / A New TPO Hire for Stonegate Mortgage

October 25, 2016
Paul Muolo
Some loan brokers we spoke with were skeptical about the RE/MAX concept...
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First-Time Homebuyer Share of Residential Purchases Falls to Level Last Seen in 2014

October 24, 2016
Brandon Ivey
Back in May, the reading for first-time homebuyers was 40.4 percent.
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Monday Morning Mortgage Shocker: Genworth Being Sold to Chinese Company

October 24, 2016
Paul Muolo
Since Genworth is a counter-party to Fannie Mae and Freddie Mac, the GSEs must approve the change of control as well.
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CBO Says Even if GSE Plaintiffs Prevail, Treasury Would Still Get Most of the Earnings of Fannie and Freddie

October 24, 2016
Paul Muolo
CBO’s comments were contained in a report that takes a “what if” approach to allowing Fannie and Freddie to retain as much as $5 billion of capital a year for 10 years...
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