Ocwen Chairman Erbey resigns as company admits misconduct

Ocwen Chairman Erbey resigns as company admits misconduct

Company to pay $150 million to homeowners

Existing home sales collapse 6.1% in November

Tumble comes amid record low declining rates, prices

Monday Morning Cup of Coffee: Oil’s crash will impact MBS market

Mortgage fraud is still a problem, plus the gift of housing metrics
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Items Tagged with 'Nationstar'

ARTICLES

Ocwen buying portfolio of delinquent Ginnie Mae mortgages

Treasury looking at impact of backdating letters allegation
Trey Garrison
If Ocwen is experiencing a tough time, they're not doing it lying down. The nonbank is moving now to purchase Ginnie Mae delinquencies even as the Treasury Department is reviewing the backdating letters scandal.
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Chad Neel joins Solutionstar as executive vice president

Will oversee servicing solutions
Ben Lane
Solutionstar has hired Chad Neel as the company’s new executive vice president of servicing solutions. In this role, Neel will focus on launching new product, technology and service offerings for existing and new customers.
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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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Kal Raman named CEO of Solutionstar

Will lead new Solutionstar office in Seattle
Ben Lane
Raman joins Solutionstar from Groupon, where he was CEO of the company’s Asia Pacific region. Prior to that, he was Groupon’s chief operating officer.Prior to his time at Groupon, Raman served as vice president of global fulfillment at eBay.
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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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Solutionstar adds to senior leadership

Mark Johnson and Matt Slonaker named vice president
Ben Lane
Solutionstar named Mark Johnson as executive vice president of valuations and Matt Slonaker as senior vice president of business development. Soultionstar President Shawn Stone said that the company is excited to have Johnson and Slonaker join the Solutionstar team.
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Nationstar recovers from "neutral" to "buy"

Sterne Agee upgrades the nonbank
Levi Shultz
According to Nationstar’s spokesman, John Hoffman, the company became one of the largest mortgage servicers in the U.S., boasting a reverse mortgage portfolio of $28.9 billion UPB as of March 31, 2014.
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Fitch: Rise of nonbank servicers threatens private-label RMBS

Top five nonbank servicers now handle 64% of all private-label securities
Ben Lane
The rise of nonbanks presents heightened risks to investors, Fitch Ratings said in a new report. “In contrast to large commercial bank servicers, most nonbank servicers, including most of the current top five, have a weaker financial profile and are currently rated non-investment grade or are not publicly rated by Fitch.”
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