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  • Ocwen facing CFPB investigation, potential fine for servicing practices

    It’s been nearly three years since Ocwen Financial agreed to offer $2 billion in consumer relief and pay up to $127.3 million to settle a Consumer Financial Protection Bureau investigation into its servicing practices. But it looks like Ocwen may not be done with the CFPB yet, as the company revealed Thursday that the bureau is currently investigating the company’s mortgage servicing practices, which could lead to a fine and/or other disciplinary action. Click the headline to read more.

MBA names Wells Fargo top commercial/multifamily originator

Wells Fargo Bank (WFC) was the top commercial/multifamily mortgage originator last year, according to a new report from the Mortgage Bankers Association. The bank headed the MBA's list of top mortgage originators in the commercial/multifamily segment, according to an MBA report released Tuesday. The list was rounded out by Holiday Fenoglio Fowler (HF), Meridian Capital Group, CBRE Capital Markets, Prudential Mortgage Capital Co., MetLife Real Estate Investments (MET), Deutsche Bank Commercial Real Estate (DB), Northmarq Capital and Berkadia Commercial Mortgage. Commercial/multifamily mortgage originations grew 88% in the fourth quarter of 2010 when compared to 4Q 2009, the MBA said. An increase in the involvement of insurance companies in the CMBS segment helped drive the growth in the segment, the association said in late March. The latest report elaborated on this trend saying, "loans for conduits for CMBS saw a 60-fold increase compared to last year’s fourth quarter." The top five originators on dollar volume to third parties last year were Wells Fargo, HFF, Meridian Capital Group, CBRE Capital Markets and Prudential Mortgage Capital Co. Write to Kerri Panchuk.


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