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Items Tagged with 'MSRs'

ARTICLES

$4.8 billion portfolio of Fannie, Freddie MSRs hits market

Available from “a highly reputable mortgage banking company”
Ben Lane
"These offerings provide an excellent opportunity to finish off your year with the purchase of a substantial amount of extremely low interest rate, high quality MSRs from a highly reputable mortgage banking company," said Interactive Mortgage Advisors, which is acting as the exclusive broker for the seller.
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$1.2 billion Fannie, Freddie MSR portfolio available for sale

Seller hopes for sale by year-end
Ben Lane

“It’s a very desirable deal: you have size, a strong seller, and clean product,” said Robert Wellerstein, managing director at MountainView Servicing Group. “That’s what you should be looking for as a buyer.”


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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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Report: NYDFS Superintendent Ben Lawsky to step down in 2015

Did Ocwen’s bad year just get better?
Trey Garrison and Ben Lane
Start spreading the news, Benjamin Lawsky is reportedly leaving the New York Department of Financial Services.
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KBW upgrades Nationstar on second look at MSRs

Sterne Agee lowers FY2014 EPS estimate
Trey Garrison
Nationstar Mortgage Holdings is getting a little more love after its rough time last week following its announcement of declining revenue for the third quarter.
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Here's why Wells Fargo believes in Nationstar

Largest mortgage bank says don’t sell nonbank mortgage firm
Trey Garrison
Nationstar Mortgage Holdings took a beating Thursday, dropping more than 20% after posting declining revenue for the third quarter. Analysts at Wells Fargo smell opportunity, and here's why.
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Nationstar beats on 3Q14 revenue of $504.3M

Revenue still down 20.2% YOY for nonbank
Trey Garrison
Nationstar Mortgage Holdings posted revenue of $504.3 million, down 20.2% year-over-year, but beating Wall Street estimates by $134.4 million.
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Walter Investment posts net loss of $70.8M in 3Q14

Total revenue of $386M misses expectations by $4.84M
Trey Garrison
Walter Investment Management reported a GAAP net loss for the third quarter of 2014 of $70.8 million, or a loss of $1.88 per diluted share.
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Ocwen posts open letter and apology to borrowers

Pledges independent investigation and rectification
Trey Garrison
Ocwen Financial has taken a beating after the New York Department of Financial Services sent a letter to the company on Oct. 21 alleging that the company had been backdating letters to borrowers, and now Ocwen is reaching out to homeowners. “We apologize to all borrowers who received misdated letters," the CEO said in a lengthy letter.
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