Things at Ocwen just went from bad to much, much worse

Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news

Pending home sales surge to highest level in 18 months

Buyer demand boosts sales

Foreclosure: The Movie… (finally!) coming to a screen near you

In new film, neighborhood of foreclosed homes drives man insane
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Items Tagged with 'PIMCO'

ARTICLES

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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Treasury yield squeeze suggests interest rates to stay low

Fed will keep thumb on the scale
Despite the Federal Reserve’s near zero interest rate policy, most in the housing industry expected interest rates and therefore mortgage rates would be going up in 2014.
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PIMCO expects U.S. economy to grow 2.5-3% in 2014

Biggest risk for growth? Ongoing tapering
Ben Lane
PIMCO’s recently released cyclical outlook for the Americas is forecasting growth in the U.S. economy of 2.5-3% in 2014.
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PIMCO cuts mortgage-backed securities holdings

Moving to investments outside the U.S.
Jacob Gaffney
PIMCO, the world's largest bond fund, is moving away from its investments in mortgage-backed securities and U.S. government-related holdings. Why would it change strategy?
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