Monday Morning Cup of Coffee: Is housing strong enough to weather rate hikes?

Monday Morning Cup of Coffee: Is housing strong enough to weather rate hikes?

Plus the mortgage bond outlook, the NYT joins the GSE investor struggle, and more

Sources: Morris Schneider Wittstadt declaring bankruptcy, closing immediately

LandCastle Title’s operations will not be affected

8 avoidable mistakes first-time homebuyers keep making

Stop doing these things
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Items Tagged with 'PIMCO'

ARTICLES

HSBC facing $34 billion mortgage debt lawsuit

BlackRock, PIMCO, others proceed as plaintiffs
Jacob Gaffney
According to the Reuters, the judge dismissed some claims, including for negligence and negligent misrepresentation. She also gave the plaintiffs 30 days to amend their complaints, and scheduled a June 24 conference. Looks like this is going to happen.
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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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PIMCO Total Return ups its MBS position

New manager wants to rebuild mortgage securities stake
Trey Garrison
PIMCO Total Return Fund is going heavier into mortgage backed securities, industry sources report. Here’s why.
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BlackRock discloses ownership stake in Altisource

Mortgage bond investor also reportedly threatening to sue Ocwen
Ben Lane
A Monday filing with the Securities and Exchange Commission shows that BlackRock is more than an interested party in the mortgage-backed securities whose loans are serviced by Ocwen and its affiliates. BlackRock also owns a substantial stake in Altisource Residential.
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Ocwen: Mortgage bond investors mislead public, push foreclosures

Fires back at “baseless, groundless” charges of mortgage payment negligence
Ben Lane
Ocwen fired back at claims of mortgage payment negligence, saying that the mortgage bond investors that accused it of failing in its duties as servicer have ulterior motives. “Your letter obscures the ultimate objective of your investor clients: to stop servicers from modifying loans and force them to foreclose on and evict as many struggling homeowners as quickly as possible,” Ocwen said in response.
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Ocwen sued by investors for mortgage payment negligence

Preparing to sue embattled nonbank
Ben Lane
Some of the country’s biggest mortgage bond investors, reportedly including BlackRock, MetLife, and Pimco, are preparing to sue Ocwen, saying that the beleaguered nonbank failed to properly collect payments on $82 billion of home loans.
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Ocwen volatile over concerns company could lose existing servicing

Sterne Agee: Continues to rate OCN neutral
Trey Garrison
Ocwen's stock has been volatile but Sterne Agee continues to rate the company neutral despite investor concerns. Here are the details.
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Here’s how much money PIMCO executives made last year

It’s much higher than estimated
Brena Swanson
How much top executives at Pacific Investment Management Co., better known as PIMCO, earn continues to fascinate Wall Street. And now that the industry has answers, the results are a lot more surprising than expected.
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Bond guru Bill Gross suddenly bolts PIMCO for Janus

Leaves SEC investigation behind?
Jacob Gaffney
Bill Gross is a legend in bond trading, as one of three co-founders of PIMCO, the largest global bond broker/dealer. He leaves to join Janus amid reports of an SEC investigation concerning bond platforms he managed at PIMCO and rumors that his behavior had become "erratic" and that he was to be fired imminently.
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BlackRock, Pimco sue Wells Fargo, Citi, others over mortgage bonds

Allege that trustees should have forced banks to buy back toxic loans
Ben Lane
BlackRock and Pimco are leading a group of investors who have filed suit against six of the largest mortgage bond trustees, alleging that the trustees failed to properly administer the mortgage trusts by not forcing mortgage lenders to repurchase toxic loans.
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