FHFA leaving g-fees alone, revising primary mortgage insurance requirements

FHFA leaving g-fees alone, revising primary mortgage insurance requirements

Move will lower fees for riskier borrowers; change is ‘revenue neutral’

Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics

Groups cite Ocwen as leader in preventing mortgage defaults

Court filing reveals name of anonymous whistleblower in Zillow/Move lawsuit

Former Zillow VP of Strategic Partnerships wrote the letter
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Items Tagged with 'Mortgage servicing rights'

ARTICLES

Ocwen announces amendment to its senior secured term loan

Extends deadline for delivery of audited financial statements to May 29, 2015
Ben Lane
Ocwen Financial announced late Friday that it entered into an amendment on its senior secured term loan that will go into effect on Monday, April 20. According to Ocwen, the amendment “removes, with respect to the 2014 fiscal year, the requirement that Ocwen’s financial statements and the related audit report must be unqualified as to going concern.”
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Ocwen reports loss of $546 million in 2014

Company finally releases much-delayed 2014 results
Ben Lane
Ocwen Financial spent the last few months preparing its investors for the bad news. And the bad news finally came early Tuesday morning. After delaying its fourth quarter and year-end financial results on multiple occasions, Ocwen disclosed Tuesday that it recorded a preliminary net loss of $546 million in 2014.
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Ocwen is no longer the nation's largest subprime mortgage servicer

Impact of exit from agency servicing becoming evident
Ben Lane
The impact of Ocwen Financial’s exit from agency mortgage servicing is beginning to materialize. According to a recent report from Fitch Ratings, Ocwen is no longer the country’s largest prime mortgage servicer. How far have the mighty fallen?
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Altisource Residential moves to pull more mortgage servicing from Ocwen

Company discusses 2015 plans in call with investors
Ben Lane
Citing a desire to decrease its reliance on a single servicer and diversify its risk, Altisource Residential revealed plans to significantly decrease its commitment to Ocwen Financial in 2015. What does it mean for the future of Ocwen?
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FBR Capital lowers target for Nationstar, keeps future EPS estimates

Nationstar moving toward traditional bank structure
Trey Garrison
FBR Capital lowered their target for Nationstar Mortgage from $30 to $25 following the company’s stock offering to raise capital and several MSR acquisitions.
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Nationstar to fund MSR purchases with stock offering

Announces plans to sell 17.5 million shares of common stock
Ben Lane
In the last month, Nationstar Mortgage reached two separate agreements with Ocwen Financial to purchase nearly $35 billion worth of mortgage servicing rights. Nationstar is planning to fund those purchases by executing a public offering of common stock.
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Ocwen speeds exodus from mortgage servicing with latest, massive MSR sale

Nationstar buys in bulk, expects more deals soon
Ben Lane
In what’s becoming a weekly occurrence, Ocwen Financial announced Tuesday that it will sell off another massive agency mortgage servicing rights portfolio. The buyer this time? Nationstar, which is expecting more, similar deals to come.
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Ocwen to sell $9.6 billion mortgage servicing rights portfolio to Green Tree

Ocwen agency MSR exodus continues
Ben Lane
Ocwen Financial’s exodus from agency servicing just took another giant step forward. The company announced Wednesday morning that it intends to sell a $9.6 billion mortgage servicing rights portfolio to Green Tree Servicing, a subsidiary of Walter Investment Management.
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JPMorgan to buy $45B in Ocwen MSRs

Ocwen continues to quietly exit servicing
Brena Swanson
At the end of last year, Ocwen CEO Ron Faris said the company planned to exit agency servicing entirely, and at the beginning of this month, the company revealed that it had one big MSR sale lined up. Now we know that JPMorgan Chase will buy $45 billion of Ocwen mortgage-servicing rights.
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Here’s how much mortgage servicing Altisource Residential is offloading

SEC filing reveals contract details with BSI Financial and Fay Servicing
Ben Lane
Last month, HousingWire reported that Altisource Residential agreed to separate mortgage servicing contracts with two vendors, Fay Servicing and BSI Financial Services. What wasn’t known at the time was just how much servicing Altisource would be transferring, but a recent filing with the Securities and Exchange Commission reveals the size of the contracts.
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