Bond investing giant PIMCO has quietly purchased First Guaranty Mortgage Corp., Frederick, MD, for roughly $50 million, gaining a toehold into an industry it has been carefully eyeing for well over two years now. The acquisition – confirmed to Inside Mortgage Finance by several sources – comes roughly three months after the company pulled out of talks with RoundPoint Mortgage, the nation’s 24th largest servicer. PIMCO – formally known as Pacific Investment Management Co. – has tried...

Ocwen has so many workers in India that it hedges its risk against the currency there, the Rupee.

For many investors it has boiled down to this: They’ve had enough and they want out.

All of the servicing rights being auctioned off are currently being subserviced by Cenlar.

“It was a great channel for some time, but the competitive landscape is expanding rapidly,” said one executive at the company.

Ginnie Mae defines “inactivity” as 18 months of dormancy. At least 50 issuers meet that definition...

The former FHA commissioner noted that: “We’ve seen that before – when enforcement does replace regulation..."

Meanwhile, the MBA chief – and his members – were caught off guard by Tozer’s comments about nonbanks and servicing transfers.

Among the industry-supported provisions is expanded small-creditor definition.

“We are not looking for ‘gotchas’ here,” the CFPB official promised.