All of the red ink spilled on MSR marks in the third quarter will be reversed and turned into gains when servicers report their results early next year? “Generally, that’s correct,” said one mortgage CEO.
Freddie notes, “The volume of specialty servicing may shrink as the number of legacy loans dwindles, but specialty servicing is likely to remain an active part of the mortgage servicing industry…”
California had threatened to pull the company’s license over document requests that Ocwen was ignoring at the time. Eventually, the two parties came to terms.