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Just Days Away From Closing on PHH Deal, Ocwen Sees a Former Executive Charged with Insider Trading

October 1, 2018
Paul Muolo
During his tenure at Ocwen, Ziengenfuse was in charge of managing the company’s “strategy” with Fannie Mae, Freddie Mac and Ginnie Mae receivables, the SEC said.
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Short Takes: Senators Want CFPB Official Fired / A Plea to Stop the Agency’s Reorg / Sen. Warren Drops Hint on White House Run / Watt’s Tenure? / A New Director at Altisource

October 1, 2018
Paul Muolo
Sen. Warren has been dropping hints that she may run for president in 2020...
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What We’re Hearing: Being Heard / Another Barn-Burner of a Quarter for Fannie and Freddie? / Complicating President Trump’s Pick for a New FHFA Chief / Defending GSE Pilot Programs / Meeting PMIERs 2.0 / Ocwen Ready to Crank Up the MSR Buying Machine? / S

September 28, 2018
Paul Muolo
If Ocwen reenters the servicing market as a buyer it will be doing so at a time when MSR prices are the highest they’ve been all decade...
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FHFA Director Watt: ‘I’m Guilty of Having an Attraction to You, That is True’

September 27, 2018
Paul Muolo and Carisa Chappell
To date, Watt has maintained that he did not do anything legally wrong...
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Short Takes: Hensarling’s Long Goodbye / Not a Candidate to Head the FHFA / 15 More Recordings / A Large Non-QM MBS? / A Name Change for Sutherland

September 27, 2018
Paul Muolo and Carisa Chappell
Rumors were floating around this week that a large non-QM securitization deal could be in the works...
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First Up to Testify Thursday at the HFSC FHFA Oversight Hearing: Simone Grimes, Mel Watt’s Accuser

September 26, 2018
Carisa Chappell
Simone Grimes, who holds the title of special advisor, is still employed by the agency.
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Short Takes: Speculation on What Mel Watt Might Say / Ocwen Schedules a ‘Special’ Meeting of Shareholders / NOLs of Roughly $400 Million / In the Event of a Change of Control? / FoA Rolls Out Second-Lien Reverse

September 26, 2018
Paul Muolo
Ocwen said its ability to utilize the NOLs to offset future taxable income may be significantly limited if the company experiences an ownership change.
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Former Incenter Trading Unit Reemerges as RAMS Mortgage Capital

September 25, 2018
Paul Muolo
The unit will continue to be headed by industry veterans Tad Dahlke and Hal Hermelee...
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Short Takes: Full Bore into Non-QM? / FHA Could Hike Premiums / Record Attendance at ABS East / Departures from Sprout / A New Denver Branch for Churchill Mortgage

September 25, 2018
Paul Muolo and Brandon Ivey
Will FHA hike its premiums? Maybe, maybe not...
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Wells Fargo Announces Job Cuts. The Mortgage Damage Could Total 3,097 Positions

September 21, 2018
Paul Muolo
The megabank is not commenting on how the cuts might affect specific business units...
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