PGA golfer Dustin Johnson sues Nat Hardwick for $3 million theft

PGA golfer Dustin Johnson sues Nat Hardwick for $3 million theft

Former LandCastle Title CEO was Johnson's attorney and "trusted advisor"

Are record-low interest rates masking high-cost mortgage lending?

Five leading economists weigh in and the answer may surprise you

Auction.com partners with Google to predict housing trends

Nowcast will predict in real time
W S

Items Tagged with 'Ocwen Financial Corp.'

ARTICLES

Ocwen’s servicer ratings downgraded…again

Morningstar becomes latest to weigh in on Ocwen’s issues
Ben Lane
"The forecast for the residential mortgage servicer, residential vendor, and residential prime mortgage servicer rankings is 'Unfavorable,'" Morningstar said. "Morningstar believes that continuing regulatory scrutiny could have further negative consequences for OFC’s residential mortgage servicing business."
Read More

This 1 chart shows just how bad last week was for Ocwen

See if you can spot when Lawksy’s letter was released
Ben Lane
If you want to know just how bad Ocwen’s week really was, all you need to do is look at one chart: Ocwen’s stock price.
Read More

Ocwen’s bad week just got worse

Fitch places Ocwen on rating watch negative
Ben Lane

Fitch said that it has “long-standing concerns” over Ocwen's aggressive growth and heavy concentration of offshore resources, and the current issues raise more concerns “over Ocwen's oversight of its systems and processes.”


Read More

ABS East: Lawsky has legacy MSRs “at a standstill”

No significant legacy MSR transfers since NYDFS froze Ocwen deal
Ben Lane
During a panel at ABS East, a massive conference on the securitization and secondary market taking place this week in Miami, one panelist said that the MSRs on the loans that make up the pre-crash residential mortgage-backed securitizations are “at a standstill,” without an end in sight.
Read More

Moody’s downgrades Ocwen’s servicer ratings

Cites increased regulatory scrutiny and force-placed insurance concerns
Ben Lane
Moody's suggests that the scrutiny from the Securities and Exchange Commission and the New York Department of Financial Services "could restrict Ocwen's activities, levy monetary fines, or take additional actions that could negatively affect the company's financial strength and servicing stability."
Read More

KBRA: More smoke than fire in Ocwen’s restated earnings

Cautions that MSR transactions could see more regulatory scrutiny
Ben Lane
Kroll notes that audit firms, like Deloitte & Touche, advise public companies on how to structure their finances related to GAAP, however “the public company is ultimately responsible for the public disclosure,” which leads to the public company “taking the blame” for what its auditor advised it to do.
Read More

SEC subpoenas Ocwen over Altisource, HLSS associations

Joins NYDFS in questioning company’s relationship with its affiliates
Ben Lane
Ocwen’s close relationship with Altisource Residential, Altisource Asset Management Corp., Altisource Portfolio, and Home Loan Servicing Solutions has been under scrutiny since New York's Department of Financial Services first sent a letter to Ocwen’s general counsel about the dealings between the affiliated companies in February.
Read More

Ocwen to restate 2Q14 earnings

There may be a "material weakness"
Brena Swanson
Ocwen Financial Services Corp. said it would restate earnings because of accounting problems, after its auditor found what may be "a material weakness'' in the way it recorded the value of certain debt.
Read More

What’s wrong at Altisource Asset Management?

Stock crashes after company denied at distressed loan auction
Ben Lane
Altisource Asset Management's stock is plummeting after reports that the company's affiliate, Altisource Residential was shut out of a HUD distressed loan auction.
Read More

Benjamin Lawsky just made it easier to be a mortgage banker in New York

Sometimes he offers you a carrot, not just the stick
Ben Lane
It’s probably safe to say that Benjamin Lawsky isn’t the most popular guy in some mortgage bankers’ offices these days. But fear not, mortgage bankers…especially those in New York. Lawsky’s office has just made your lives much easier.
Read More