Move lawsuit against Zillow clears contempt hurdle with settlement

Move lawsuit against Zillow clears contempt hurdle with settlement

Move declares "full steam ahead" in prosecution

Twitter roundup of this week's top housing articles

CFPB heads up the list

Shaky housing market about to get even shakier

When will we all stop kidding ourselves?
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Items Tagged with 'mortgage bonds'

ARTICLES

WinWater prepping vanilla jumbo mortgage bond

$287.74 million offering receives AAA ratings
Ben Lane
For the third time this year, WinWater Home Mortgage is preparing to bring a prime jumbo residential mortgage-backed securitization to market. WinWater Mortgage Loan Trust 2015-3 is backed by 382 loans with a total principal balance of $287,742,280.
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Ocwen fires back at “disingenuous” charges of negligence

Accuses mortgage bond investors of being "pro-foreclosure"
Ben Lane
Ocwen Financial is doubling down in its fight against a group of mortgage bond investors that accused the nonbank of failing to properly collect payments on mortgage loans and breaching its bond covenants, charging the investors, which include BlackRock, MetLife, and PIMCO, of having a “pro-foreclosure, anti-modification” agenda.
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NY appeals court approves Countrywide’s $8.5B settlement

BNY Mellon acted properly as trustee four years ago
Trey Garrison
This could be the final hurdle, and payouts could be coming soon in the rep and warranty settlement. Here’s what happened and what it could mean for JPM and Citibank’s settlements.
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JPMorgan preps second ARM-only jumbo mortgage bond

$372.4 million offering receives triple-A ratings
Ben Lane
Kroll Bond Rating Agency, Moody’s Investor Service and Fitch Ratings each issued presale reports on J.P. Morgan Mortgage Trust 2015-IVR2, and each ratings agency awarded triple-A ratings to the majority of the offering’s classes.
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At long last: ING completes exit from disastrous US business ventures

Completes divestment of Voya Financial
Ben Lane
With the sale of 45.6 million shares of Voya Financial, ING Group announced Wednesday that its exit from the U.S. retirement, investment and insurance business is complete. ING agreed to divest itself from Voya at the direction of the European Commission, as part of its bailout of ING.
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Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news
Ben Lane
Just when it looked Ocwen Financial may finally be getting some good news, the nonbank was hit with an avalanche of bad news. A new report from Compass Point says that Ocwen was just terminated as servicer on two RMBS deals, and worst of all, Ocwen now stands accused of costing mortgage bond investors $26 billion.
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Ocwen-related RMBS deals were just hit with major downgrade

Fitch follows through on threat to downgrade Ocwen deals
Ben Lane
Less than a month ago, Fitch Ratings sounded 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. And Friday, Fitch followed through on that threat.
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Hedge fund: Here’s more evidence Ocwen and HLSS breached bond covenants

BlueMountain Capital bolsters initial default claims
Ben Lane
A hedge fund that recently claimed that Ocwen Financial and its affiliated company, Home Loan Servicing Solutions, breached their mortgage bond covenants is now saying that recent events have done nothing but reinforce their initial claims of default.
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Kroll: Fannie & Freddie were, are and will always be GSEs

Investor lawsuits “without merit”
Jacob Gaffney
“Equity investors in Fannie Mae and Freddie Mac rightly complain about a lack of due process and transparency in how the affairs of the GSEs have been managed, but such is life in a liberal democracy.”
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HLSS and Ocwen escalate fight against mortgage negligence claims

Accuse hedge fund of attempting to undermine Ocwen’s stock price
Ben Lane
It appears that Home Loan Servicing Solutions and its associated company, Ocwen Financial, take the claims that they breached their mortgage bond covenants quite seriously. The companies are again accusing BlueMountain Capital Management of attempting to "undermine" Ocwen's stock price, given BlueMountain's short position in Ocwen.
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