Things at Ocwen just went from bad to much, much worse

Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news

Pending home sales surge to highest level in 18 months

Buyer demand boosts sales

Foreclosure: The Movie… (finally!) coming to a screen near you

In new film, neighborhood of foreclosed homes drives man insane
W S
Investments / The Ticker

Default mortgage demand heats up

Hedge funds surge as delinquent loan sales rise

stock art

According to an article in Bloomberg, sales of delinquent mortgages are accelerating as lenders rush to meet demand from hedge funds and private-equity firms that has sent prices surging. 

The market for defaulted mortgages is heating up as Wall Street firms try to profit from the housing recovery, banks seek to avoid the added costs of holding delinquent debt and the Department of Housing and Urban Development sells loans to reduce losses at the financially troubled Federal Housing Administration. 

“This market is getting very heady and you are seeing the supply come out in response to these prices,” Laurence Penn, CEO of Ellington Financial, said. 
Source: Bloomberg
Read full story

Recent Articles by Brena Swanson

Comments powered by Disqus