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  • Ocwen cleared of wrongdoing in multi-billion dollar mortgage bond fight

    Early in 2015, a group of mortgage bond investors that reportedly included BlackRock, MetLife, and Pimco accused Ocwen Financial of violating its duties as a mortgage servicer by failing to properly collect payments on $82 billion of home loans thereby costing the investors $26 billion. Now, after a yearlong independent investigation found no evidence of the litany of allegations made by the investors, Ocwen is off the hook. Click the headline for the whole story.

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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