A big problem: For one non-QM MBS, dv01 identified 233 loans that are actively modified while the trustee reported only 41 and the master servicer reported 74.
In its favor, Ocwen recently posted a small profit and is a “scratch and dent” specialist that could benefit greatly if delinquencies in the COVID-19 era spin out of control…
The deal received preliminary AAA ratings from Moody’s Investors Service and S&P Global Ratings, with credit enhancement of 13.75% on the senior tranche.
Data vendor Black Knight plans to combine its Compass Analytics business with Optimal Blue in a newly formed entity, with an emphasis on cross-selling products.
The Mortgage Industry Standards Maintenance Organization said it is developing standards to facilitate more efficient servicing transfers. The organization is asking industry participants to join its working group.
Investor demand for non-QM MBS is currently near levels seen before volatility in March, helping to sustain issuance volume. The deal flow could slow soon due to limited originations and economic trends.