Home Loan Servicing Solutions stock craters after investors get paid

Home Loan Servicing Solutions stock craters after investors get paid

Payout of $1.2 billion headed to stockholders

Homeownership rate falls to lowest since 1993

Economists question whether tumble will continue or has bottomed out

Ocwen’s road ahead: Well, can't get any worse

Fall down seven times, get up eight?
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Servicing

What’s the impact of Green Tree’s $63 million fine?

Moody’s weighs in on company’s future
Ben Lane
Unsurprisingly, Green Tree Servicing could be facing several negative outcomes, including a potential downgrade to its servicer ratings, in the wake of its $63 million fine from the Consumer Financial Protection Bureau and the Federal Trade Commission. A new report by Moody's details what could be in Green Tree's future.
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NASDAQ to delist Home Loan Servicing Solutions

Next shoe in New Residential deal drops
Ben Lane
The next shoe has dropped in New Residential Investment’s acquisition of Home Loan Servicing Solutions. The company announced late Friday that it received a letter earlier in the week from NASDAQ, which stated that the stock exchange is delisting Home Loan Servicing Solutions, effective at the opening of business April 29, 2015.
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FHA beefs up foreclosure prevention initiatives

Housing advocates applaud changes to HUD’s distressed asset program
Trey Garrison
The FHA and HUD are taking steps to amp up foreclosure prevention, and some housing advocates like what they’re hearing.
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Sterne Agee raises estimate and price target on Altisource Portfolio Solutions

Elimination of unproductive costs “noteworthy”
Trey Garrison
Sterne Agee analyst Henry Coffey is raising the estimate on earnings and price target on Altisource Portfolio Solutions after seeing the company’s first-quarter results posted Thursday. Here’s why.
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Fannie, Freddie: Simplifying loss mitigation is a 2015 priority

Both continue efforts to resolve serious delinquencies
Trey Garrison
Simplification and streamlining – those are the watchwords as Fannie and Freddie move forward in 2015 in terms of mortgage servicing. And not surprisingly, the two enterprises' plans are not too different.
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Servicers, don’t let your lawyers handle all the legal work

Panelists: Lawyers don’t know the business
Trey Garrison
It’s critical to let lawyers review proposed industry rules when comments are sought, but don’t rely on them to handle it alone because they don’t know the business.
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Altisource Portfolio Solutions' net income plummets 91%

Cites increased expenses related to "terminated employees and contractors"
Ben Lane
Altisource Portfolio Solutions saw its net income plummet by 91% in the first quarter of 2015. According to Altisource’s CEO, William Shepro, the drop in income was due in part to $13.6 million in expenses “related to terminated employees and contractors and other out-of-the-ordinary items.”
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6 secrets to dealing with regulations for mortgage servicers

A candid look from the perspective of 2 recovering regulators
Trey Garrison
Here are the six things to consider in dealing with the government, courtesy of Peter Carroll, executive vice president of Mortgage Policy at Quicken Loans, and Katherine Porter, professor of law at UCI. At least one you shouldn't take literally.
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Fitch: GSE non-performing loan sales will help banks too

Fannie and Freddie sales could spur NPL market
Ben Lane
The recent push by Fannie Mae and Freddie Mac to offload pools of non-performing loans could help more than just the GSEs, according to a new report from Fitch Ratings. The non-performing loan market could be poised for a surge.
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Black Knight: March foreclosure starts skyrocket 18% from February

Delinquency rate sees largest monthly drop since 2007
Trey Garrison
The March delinquency rate dropped 12% month-over-month, the largest monthly decline in nine years, but at the same time foreclosure starts skyrocketed 18% in March. Here’s what happened.
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