Revealed: BlackRock owns considerable stock in housing’s biggest players

Who wins the Super Bowl…of real estate?

Redfin deflates Patriots' homeowners

CFPB wants more mortgages in "underserved" areas

And here's how they will get it done
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Items Tagged with 'Ocwen Financial Corp.'

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Revealed: BlackRock owns considerable stock in housing’s biggest players

Owns more than just Altisource
Ben Lane
Altisource is not the only housing stock BlackRock owns. In fact, according to recent filings with the SEC, BlackRock owns a substantial stake in another of Ocwen’s associates, Home Loan Servicing Solutions, as well as considerable interests in CoreLogic and Lowe’s.
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Home Loan Servicing Solutions fires back at mortgage-negligence claims

Ocwen associate answers charges from hedge fund
Ben Lane
Home Loan Servicing Solutions is joining with associate Ocwen Financial, in the fight against investors who claimed that the companies breached their mortgage bond covenants, and is accusing the investors of attempting to profit on their stock holdings in HLSS as opposed to actually caring what happens with the mortgage bonds.
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Fitch warns Ocwen-related RMBS deals face major downgrade

Placed on “Rating Watch Negative”
Ben Lane
Fitch Ratings is sounding the alarm on residential mortgage-backed securities that contain loans serviced by Ocwen Loan Servicing, an affiliate of Ocwen Financial, telling investors to expect a downgrade on the ratings of Ocwen-related RMBS transactions soon.
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Moody’s: Ocwen’s California settlement won’t hurt RMBS investors

But it’s not all sunshine and roses either
Ben Lane
For investors in RMBS that contain Ocwen-serviced loans, the impact of the California settlement will be felt, but nowhere nearly as deeply as if Ocwen’s punishment was more severe. But that doesn't mean that the impact of the settlement is minimal either.
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BlackRock discloses ownership stake in Altisource

Mortgage bond investor also reportedly threatening to sue Ocwen
Ben Lane
A Monday filing with the Securities and Exchange Commission shows that BlackRock is more than an interested party in the mortgage-backed securities whose loans are serviced by Ocwen and its affiliates. BlackRock also owns a substantial stake in Altisource Residential.
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Ocwen: Mortgage bond investors mislead public, push foreclosures

Fires back at “baseless, groundless” charges of mortgage payment negligence
Ben Lane
Ocwen fired back at claims of mortgage payment negligence, saying that the mortgage bond investors that accused it of failing in its duties as servicer have ulterior motives. “Your letter obscures the ultimate objective of your investor clients: to stop servicers from modifying loans and force them to foreclose on and evict as many struggling homeowners as quickly as possible,” Ocwen said in response.
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California settlement puts Ocwen on a leash

Prohibited from acquiring California MSRs without state’s approval
Ben Lane
It appears that the threat by the State of California to suspend the mortgage license of Ocwen Financial is over, at least for now. The beleaguered nonbank confirmed that it settled with the California Department of Business Oversight, which was threatening to suspend Ocwen’s mortgage license.
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Ocwen sued by investors for mortgage payment negligence

Preparing to sue embattled nonbank
Ben Lane
Some of the country’s biggest mortgage bond investors, reportedly including BlackRock, MetLife, and Pimco, are preparing to sue Ocwen, saying that the beleaguered nonbank failed to properly collect payments on $82 billion of home loans.
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Hedge fund claims Ocwen breached bond covenants

Blue Mountain Capital reveals short position
Ben Lane
Hedge fund BlueMountain Capital Management sent notices of default to embattled nonbank Ocwen Financial and its affiliated company, Home Loan Servicing Solutions on Friday, saying that Ocwen’s regulatory troubles have caused an “irrefutable” default on notes the hedge fund owns.
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Altisource adds John Vella as chief revenue officer

Tasked with expanding Altisource’s mortgage and real estate services
Ben Lane
As part of the company’s efforts to shape its future, Altisource Portfolio Solutions announced that it appointed John Vella to the newly created position of chief revenue officer. In this new role, Vella will focus on the company’s growth initiatives and diversifying the reach of Altisource’s product suite to the real estate and mortgage industries.
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