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.
In the same blog post, Hsieh – who did not talk to the press about the scuttled IPO – described loanDepot as a “unicorn startup,” calling it “one of the very few success stories not from Silicon Valley.