Sources: Morris Schneider Wittstadt declaring bankruptcy, closing immediately

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

Trending Thursday: CFPB data collection worse than the NSA?

Slowly but surely GSE shareholders cutting into Treasury, FHFA secrecy
W S

Items Tagged with 'MSRs'

ARTICLES

Hatteras Financial acquires Pingora Asset Management

Expects to begin investing in mortgage servicing rights in July
Ben Lane
Hatteras Financial, a real estate investment trust, announced the acquisition of Pingora Asset Management and Pingora Loan Servicing, a specialized asset manager focused on investing in new production performing mortgage servicing rights and servicing residential mortgage loans.
Read More

Ocwen pays down more debt with MSR sales proceeds

Continues in stated plan to deleverage
Ben Lane
Ocwen Financial announced Wednesday morning that it is using the proceeds of a sale of mortgage servicing rights to pay down a portion of its senior secured term loan. The pay down is the latest in Ocwen's push to deleverage itself, a development that some view as a positive for the company's future.
Read More

IMA puts out $2B Ginnie Mae MSR portfolio

Loans carry weighted average note rate of 3.75%
Trey Garrison
Interactive Mortgage Advisors announced it is acting as exclusive broker for the seller of a $2 billion Ginnie Mae bulk residential mortgage servicing rights offerings.
Read More

Embattled Ocwen upgraded by Moody’s

Ratings agency says recent MSR sales will help nonbank’s future
Ben Lane
In a new report released Wednesday, Moody’s upgrades several of Ocwen’s ratings and writes that Ocwen’s MSR sales and the proceeds of those sales can go a long way to preserving the future of the beleaguered nonbank, but cautioned that the nonbank isn’t out of the woods yet.
Read More

Chase closes massive $45B Fannie Mae MSR deal from Ocwen

Rights for more than 266,000 "high-quality" loans
Trey Garrison
Ocwen Financial's exodus from agency servicing continues. The previously announced sale of $45 billion in mortgage servicing rights from Ocwen Loan Servicing to Chase is now official. And considering recent events for Ocwen, this deal went rather smoothly.
Read More

PHH returns to profitability in first quarter

Reports 46% jump in mortgage applications
Ben Lane
After a year of transition that saw PHH Corp. sell off its fleet management business and take a net loss from continuing operations of $191 million in 2014, PHH returned to profitability in the first quarter. How did PHH turn it around?
Read More

$1.18 billion in Fannie, Freddie MSRs hit market

MountainView marketing two GSE pools
Ben Lane
Mortgage servicers hoping to get their hands on the servicing rights for loans owned by Freddie Mac and Fannie Mae have that chance, according to MountainView Servicing Group, which is acting as advisor in the sale of two separate sales of agency mortgage servicing rights.
Read More

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

Fall down seven times, get up eight?
Trey Garrison
How close is Ocwen to extricating itself from the mess of its own making, and can it alter the course enough to ride out the rest of the storm? On Thursday, we'll see how they did in their first post-Erbey quarter, and if things are going to plan.
Read More

Kroll: Regulators, policymakers need to get with the times on originating, servicing

Connection between lending volumes and interest rates largely broken
Trey Garrison
The banking industry continues a wholesale retreat from mortgage origination and servicing, but much of the focus from regulators and policymakers is on the landscape of five years ago, and investors are worried. That has to change, KBRA says.
Read More

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.
Read More