From fiscal 2010-2016, FHA sold roughly 111,000 troubled loans to private investors, including nonprofits, through DASP. In addition, GAO found that FHA did not routinely assess outcomes…
The change is part of the agency’s continuing focus on risk management as its book of business continues its historic shift toward nonbank mortgage servicers that have come to dominate its $2.0 trillion-plus portfolio.
New Residential's stock buyback program is for common shares only and will expire at year-end 2020. In 2019, New Rez has sold additional shares of both common and preferred...
Generally, it’s a bullish sign when executives purchase shares of their companies in the open market, especially if they’re paying cash as opposed to buying on margin.
PIMCO owns at least one mortgage company, First Guaranty Mortgage Corp., in Tysons Corner, VA. Earlier this year, FGMC launched a non-QM brand called Maverick…
Ocwen’s Liberty Home Equity Solutions recently launched a non-agency reverse mortgage product. The EquityIQ loan allows borrowers to access up to $4 million in up-front cash...
The suit was filed by Rodney Harrell, a Virginia homeowner, who obtained a residential mortgage from NYCB Mortgage. The right to service Harrell’s loan was transferred to Freedom, which in June 2017 bought some of NYCB’s MSR portfolio.
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