Ocwen Financial, the nations top-ranked subprime servicer, was the only firm among the major servicers that increased its subprime servicing portfolio (excluding subservicing) in the third quarter of 2013.
Mortgage professionals who work the M&A trade contend that interest in residential finance is not waning in the least, but potential buyers are being a bit more choosey these days.
One last thought on Berkowitz and Fairholme: To get Congress to listen to your ideas you have to donate money. Berkowitz can check that box off his to-do list. He has been a generous donor to Republicans and Democrats alike over the past two election cycles.
The frothy prices being offered for MSRs are beginning to cool somewhat. Theres definitely a tighter range on bids lately, said Matt Maurer, managing director of MountainView Servicing Group.
According to Alice Alvey of Indecomm Mortgage U, many shops are reassessing originator comp plans for January 2014 to adjust to the changing margins and seize the opportunity to blame it on the change in the law."
The REIT is just starting to purchase MSRs. At the end of September it had $15.7 million of mortgage servicing rights on its balance sheet, but that figure should rapidly change in the quarters ahead.
When it comes to auditing mortgage lenders, does the CFPB know what its doing? It all depends on who you talk to. Also, the FHFA cracks down on force placed insurance (again).