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April 17, 2014

NY DFS Probe of Nonbank Servicers Has Frozen Servicing Sales

By Brandon Ivey

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.

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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