How well the nonbanks have done with regulators – and dealing with volatile interest rate swings – is best looked at through the prism of their share prices. And in that regard, Ocwen Financial has suffered the most, easily.
The decline was largely based on a seasonal slump in purchase-mortgage activity. Looking forward, primary-market indicators point to a solid increase in consumer demand.
But the news wasn't all good: After peaking at $280 billion in the third quarter of 2015 – an eight-year high – purchase-mortgage originations tumbled 25 percent in 4Q...