The investigation by the New York Department of Financial Services of nonbank servicers including Nationstar Mortgage and Ocwen Financial has put a halt to servicing sales.
The outage of Ellie Mae's Encompass systems at the end of the first quarter appears to be due to a malfunction on Ellie Mae's end, not a malicious attack.
The MBA said applications for purchase-mortgages with high loan balances have increased in recent months while applications for lower-balance mortgages has declined…
Bad news for Nationstar and Ocwen? S&P said downgrades on servicer-advance ABS are possible because the analysis that accompanied ratings on certain deals didn’t consider subordinated interest amounts as part of the ratable promise.