Items Tagged with 'Mortgage servicing rights'

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Walter Capital Opportunity Corp. selling $10 billion MSR portfolio to New Residential

Sale expected to generate $90 million for Walter Investment Management Corp.
Last week, after Walter Investment Management Corp. reported its third straight quartely loss, CEO Anthony Renzi said he believes the company is on the right track in an effort to return to profitability. On Wednesday, the company announced a move that will indeed generate cash for the company, enough to nearly wipe out its entire third quarterly loss.
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Ocwen returns to profitability for first time since Q2 2015

Sets aside additional $10 million for settlement with California
Earlier this year, when Ocwen Financial reported a net loss for the second quarter, marking its fourth straight quarter of taking a loss, the company’s executives said that despite the “legacy” issues Ocwen faced, they believed the company was on a path back to profitability. What they didn’t say is just how long it would take the nonbank to get back into the black. As it turns out, it only took one quarter.
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$3.2 billion Fannie Mae, Freddie Mac MSR portfolio hits the market

Loans are "very high quality"
Buyers looking to get their hands on the mortgage servicing rights to some “high quality” mortgages backed by Fannie Mae and Freddie Mac are in luck, as a bulk portfolio is out for sale. According to MountainView Servicing Group, which is acting as the exclusive sale advisor, the portfolio features mortgage servicing rights to loans with $3.26 billion in unpaid principal balance.
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Compass Point: Buy Ocwen now, company is ready to grow

Financial analyst upgrades nonbank, raises price targets
Things are looking up, just a bit, for Ocwen Financial. As a result of some recent moves, Ocwen’s stock rose over the last few months, and according to a new report from Compass Point Research & Trading, the stock is going to continue to rise and the time to buy is now.
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FHA makes it easier for struggling borrowers to keep their homes

Announces "streamlined" loss mitigation process for mortgage servicers
Borrowers with a high loan-to-value ratio mortgage received some welcome news on Thursday morning when the Federal Housing Finance Agency announced that it plans to extend the Home Affordable Refinance Program into 2017. But what about struggling borrowers whose loans are insured by the Federal Housing Administration? Well, those borrowers are now about to get some relief of their own.
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SEC filing details Ocwen's efforts to rid itself of California mortgage servicing restrictions

With monitor costs mounting, Ocwen moves to settle
Ocwen Financial revealed Wednesday that it is attempting to rid itself of the business restrictions placed upon it by the California Department of Business Oversight, but a Thursday filing with the Securities and Exchange Commission details just how those negotiations are going and why Ocwen is trying to buy its way out of the settlement.
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Is there a light at the end of the tunnel for Ocwen?

Company takes loss in 2nd quarter as it tries to move past "legacy" issues
True to its own predictions from earlier in the year, Ocwen Financial posted another loss in the second quarter, putting it on track to post a loss in 2016. But is there finally a light at the end of the tunnel for the nonbank?
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