Fannie Mae: Don't expect 2015 to be a breakout year for housing

Stop panicking about recent foreclosure numbers

The sky is not falling

Sen. Warren accuses FHFA’s Watt: “You haven’t helped a single family”

Senator charges FHFA with dereliction on principal reduction
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Items Tagged with 'Ocwen'

ARTICLES

Cancelation of Wells Fargo deal spells more trouble for Ocwen

Stock approaching new low for the year
Ben Lane
Considering the fact that Ocwen Financial announced the cancelation of its $2.7 billion mortgage servicing rights deal with Wells Fargo after the stock market closed yesterday, the company probably knew that its stock was going to take a hit when the market reopened on Friday. And that’s just what happened.
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Massive MSR deal between Wells Fargo and Ocwen is officially dead

Deal was put on hold by NYDFS in February
Ben Lane
The long-delayed $2.7 billion mortgage servicing rights deal between Ocwen Financial and Wells Fargo is now dead, the companies announced late Thursday. In February, the New York Department of Financial Services put an indefinite hold on the transaction. Now, any hope of reviving the deal is futile.
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Altisource stock crashes after terminating lender-placed insurance business

So much for that Lawsky-related bump
Ben Lane
Citing “uncertainties with industry-wide litigation and the regulatory environment,” Altisource announced that it would be exiting its lender-placed insurance brokerage business early Wednesday morning. The news sent Altisource's stock crashing to a yearly low.
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Ocwen stock jumps on reports of Lawsky’s departure from NYDFS

NYDFS Superintendent has aggressively pursued Ocwen and affiliates
On Monday, reports began circulating that New York Department of Financial Services Superintendent Benjamin Lawsky would step down in 2015. And Tuesday, the stocks of Ocwen and its affiliates jumped upon the news that Ocwen’s main antagonist may be leaving.
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Will Walter Investment go the way of Ocwen?

Company reveals new investigations into servicing practices
Ben Lane
On page 44 of the Walter Investment's earnings filing with the Securities and Exchange Commission, the company disclosed that during the second quarter, it met with a working group representing the attorneys general and regulators of several states as well as representatives of the Office of the United States Trustee to “discuss the business practices of Green Tree Servicing.” Several of those states have since launched investigations.
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Ocwen woes drag down Altisource

What’s the opposite of "a rising tide lifts all boats?"
Ben Lane
Over the course of the last ten days, Ocwen Financial and its affiliates have taken a beating from all corners of Wall Street over a letter from the New York Department of Financial Services, which alleged that Ocwen was backdating letters to borrowers.
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How much offshore staff do the top mortgage servicers use?

Fitch shines a light on offshoring and its potential consequences
Ben Lane
Several of the country’s largest mortgage servicers already have as much as a third of their mortgage servicing staff offshore. A new report from Fitch Ratings details the rise of offshoring and what it means for the future of mortgage servicing.
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Ocwen’s servicer ratings downgraded…again

Morningstar becomes latest to weigh in on Ocwen’s issues
Ben Lane
"The forecast for the residential mortgage servicer, residential vendor, and residential prime mortgage servicer rankings is 'Unfavorable,'" Morningstar said. "Morningstar believes that continuing regulatory scrutiny could have further negative consequences for OFC’s residential mortgage servicing business."
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Ocwen Financial moves from profit to loss

Beleagured nonbank books a $100M charge for potential settlement
Trey Garrison
Ocwen Financial missed analyst expectations by more than a dollar per share, posting a pretax loss of $75.3 million or $0.58 per share compared to a profit of $60.6 million and $0.39 one year ago as the company books a $100 million pretax charge for a potential settlement with the New York Department of Financial Services.
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Ocwen gets a bounce on rumors of possible settlement

$40M to settle the backdating issue could be in the cards
Trey Garrison
Ocwen Financial was nearly scuppered last week after the New York Department of Financial Services sent an open letter alleging it was backdating letters to borrowers, but the firm got a boost Wednesday afternoon on rumors reported initially by Bloomberg that it may settle the matter for about $40 million.
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