Articles Tagged with ''MSRs''

HomeStreet to sell a piece of its mortgage servicing portfolio

Bank will sell $5B of its single-family MSRs to Matrix Financial
Seattle bank HomeStreet announced this week it will sell a piece of its mortgage servicing rights to Matrix Financial Services. The deal, which includes an unpaid principal balance of $4.9 billion in single-family MSRs, amounts to approximately 20% of the bank’s single-family servicing portfolio.
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Situs acquiring MountainView Financial Solutions

Acquisition “puts Situs at the nexus of real estate and fintech”
Situs, a premier provider of strategic business and technology solutions to the real estate industry, announced late in the week that it plans to acquire MountainView Financial Solutions.
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Monday Morning Cup of Coffee: Senate passes major tax reform that impacts every mortgage facet

Real estate, lending, servicing and secondary markets will all change
Tax reform. Tax reform. Tax reform. The big issue facing housing and mortgage finance, by far, is tax reform. The Senate passed its major tax reform Friday night, and now the two parties will need to come to a consensus on which tax bill they will send to the president's desk. For now there is no consensus, or clear guidance, on what tax reform will entail.
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Ocwen begins settling with states to remove mortgage servicing restrictions

Consent orders reached with Illinois and Montana

Back in April, more than 20 states clamped business restrictions on Ocwen Financial for alleged rampant errors with homeowners’ escrow accounts and other mortgage servicing issues. Now, five months later, Ocwen is beginning to dig its way out of from under those restrictions, but the company isn’t getting away clean.

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The Ocwen connection: New Residential, Altisource Portfolio Solutions ink REO agreement

Altisource will provide marketing, listing services for REOs included in Ocwen MSRs
Over the last few months, New Residential Investment significantly increased its mortgage servicing rights portfolio through a deal with Ocwen Financial. But that’s not the only new connection between Ocwen and New Residential, as a company that has a close relationship with Ocwen just inked a new deal with New Residential – Altisource Portfolio Solutions.
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Nationstar posts net loss of $20 million, but the news is better than it seems

Adjusted earnings rises to $42 million
Nationstar Mortgage, the company soon to be known as Mr. Cooper, reported Thursday that it saw its first quarterly net loss in a year, but the news is actually better than it appears. Overall, Nationstar posted a GAAP net loss of $20 million (or $0.20 per diluted share) in the second quarter, but on an adjusted basis Nationstar saw earnings of $42 million, or $0.43 per share.
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