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Home » Topics » IMFnews » Servicing

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Servicing Transfers Were Strong in 2Q19. Then, Why are Dealmakers Feeling So Blue?

August 13, 2019
Paul Muolo

There’s also a lag time involved. A deal might be signed and completed but the MSR portfolios might not actually transfer to the new owner for several months.


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Short Takes: New Ocwen Exec Gets $100K Signing Bonus and More / Incenter Launches Bulk Auction of GSE Product / The Top 5 MSR Buyers Revealed / Ex-FHLB Dallas Execs Cop a Plea / New Hires for Williston

August 12, 2019
Paul Muolo and Dennis Hollier

Francois Grunenwald, Ocwen's new SVP and CAO, is a graduate of the University of Paris. His signing bonus (just for taking the job) is $100,000. He joins the nation’s 12th largest servicer from PricewaterhouseCoopers…


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MSR-Hungry New Residential Gets More Fuel: $250M Stock Raise

August 12, 2019
Paul Muolo

New Rez’s investment bankers on the preferred stock offering include Bank of America, JPMorgan, KBR and others…


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Freedom Mortgage: Cash In Hand and Ready to Buy?

August 9, 2019
Paul Muolo

Not only does the Mt. Laurel, NJ-based company rank seventh among originators, it’s also the 11th largest servicer.


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Freedom Mortgage Inks Another M&A Deal. More on the Way?

August 8, 2019
Paul Muolo
The top-10 originator recently agreed to buy mid-sized lender J.G. Wentworth Home Loans of the mid-Atlantic. M&A sources contend that Stan Middleman’s shop has more deals in the pipeline.
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Short Takes: FHFA Toys With the Residential Application Form / Rising Like a Rocket: Impac / And Then There’s Ocwen / A 41% Drop in Employment for this One Company / The Kill Fee Revealed

August 8, 2019
Paul Muolo

Roughly four years ago, Ocwen Financial employed 10,500 workers worldwide. The firm's headcount is down dramatically since then...


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MSR-Hungry New Residential Readies Preferred Stock Deal, Provides Ditech Update

August 8, 2019
Paul Muolo

At June 30, the REIT owned $441 billion of MSRs, a 9.7% increase from March 31. The figure exclude excess servicing rights.


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Short Takes: All Eyes on Stocks and Bonds / Fear the ‘Transition’ Tax? / A Fee, Not a Tax / Applications Finally Rise / A Small Profit at AAMC Because of a Stock Markup

August 7, 2019
Paul Muolo and Yemeng Yang

New mortgage applications increased 5.3% for the week ending August 2, according new figures released by the Mortgage Bankers Association. The refi share inched up to 53.9% of new business from 50.5% the week prior.


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More Bad News from Ocwen: Subservicing Clients Disappearing, $872M in Debt Coming Due

August 7, 2019
Paul Muolo

In a new 10-Q filing with the SEC, Ocwen disclosed roughly 40 “risk factors,” including “uncertainty” tied to litigation, cease and desist orders, investigations brought by government agencies and more…


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Verus Set to Issue Another Large Expanded-Credit MBS

August 7, 2019
Brandon Ivey

The $569.11 million MBS will be the third deal of the year from Verus with a dollar volume greater than $500 million.


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