KBW on Ocwen: “While the company is setting up MSR [mortgage servicing rights] financing facilities, management noted returns on available MSR trended down, though the company did lower its targeted ROE [return on equity] on agency MSR to 8.5% from 9.5%."
“In the first quarter everybody was hating life,” said Michael Lau, CEO of Pingora Asset Management. “Now everybody is loving life. They have fat margins and origination pipelines are robust.”