Strong demand for jumbo mortgages helped support origination volume in the second quarter even as many banks tightened underwriting standards for the loans.
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.