Ocwen’s road ahead: Well, can't get any worse

Ocwen’s road ahead: Well, can't get any worse

Fall down seven times, get up eight?

Monday Morning Cup of Coffee: What’s the diagnosis for the "sick" housing market?

Still, confidence remains high

6 secrets to dealing with regulations for mortgage servicers

A candid look from the perspective of 2 recovering regulators
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Items Tagged with 'Federal Housing Finance Agency'

ARTICLES

Freddie Mac targets smaller investors with new non-performing loan sales

New program features smaller pools and longer marketing timelines
Ben Lane
Freddie Mac announced a new program for auctioning off pools of deeply delinquent non-performing loans from its mortgage investment portfolio. The new program will target smaller investors by making smaller pools of non-performing loans available.
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Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics

Groups cite Ocwen as leader in preventing mortgage defaults
Ben Lane
A consortium of housing advocacy groups is calling on the U.S. Department of the Treasury, the Federal Housing Finance Agency, and the Consumer Financial Protection Bureau to investigate “pro-foreclosure campaigns,” which the groups say are being perpetrated by “Wall Street giants including the largest hedge funds, mortgage bond traders, and insurance companies.”
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Nomura and RBS await judge ruling on FHFA mortgage lawsuit

FHFA sues over faulty mortgages
Brena Swanson
All sides have given their closing arguments in the FHFA’s trial against Nomura Holdings and the Royal Bank of Scotland. Now it's up to the judge to decide if mortgages sold to Fannie Mae and Freddie Mac were misrepresented when packaged into securities.
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Fannie Mae announces first-ever sale of non-performing loans

First pool will feature 3,200 loans
Ben Lane
After announcing last week that it intended to join Freddie Mac in selling off pools of non-performing loans, Fannie Mae released the details of its first sale on NPLs, which features a pool of approximately 3,200 loans totaling $786 million in unpaid principal balance.
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Feds bust massive mortgage fraud scheme

Leader sent to prison for almost 5 years, ordered to repay $2.5 million
Ben Lane
A former real estate agent will spend the next 57 months in prison after being convicted of conspiracy to commit wire fraud and aggravated identity theft, stemming from a massive residential mortgage fraud scheme that defrauded lenders, the Federal Housing Administration, Fannie Mae, and Freddie Mac of nearly $2.5 million.
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Fannie Mae to sell non-performing loans

Joins Freddie Mac in meeting FHFA directive
Ben Lane
Fannie Mae is set to join government-sponsored enterprise counterpart, Freddie Mac, in selling off pools of non-performing loans, with plans to target nonprofit organizations, smaller investors and minority- and women-owned businesses in future sales.
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FHFA: Refinance volume drops in January

HARP volume makes up 7% of applications
Brena Swanson
Refinance volume dropped in January despite mortgage rates continuing to drop from the highs witnessed in late 2013. Will HARP see any revitalization?
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Fannie Mae to list risk-sharing bonds on Irish Stock Exchange

Will hold “sufficient” credit risk to ensure compliance with European Union rules
Ben Lane
European investors seeking to buy into the U.S. mortgage market will now have that opportunity, after Fannie Mae announced that it plans to list all of its outstanding risk-sharing mortgage bonds on the Irish Stock Exchange.
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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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With HAMP resets looming, Fannie and Freddie authorize further modifications

Previously modified HAMP borrowers eligible for additional help
Ben Lane
Fannie Mae and Freddie Mac are concerned that HAMP interest rate resets could lead to a wave of defaults, so the government-sponsored enterprises are now telling servicers to offer additional modifications to keep more borrowers in their homes.
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