Items Tagged with 'Ocwen Financial'

ARTICLES

  • Here are the top 10 reverse mortgage lenders

    And these are the different approaches they’re taking to survive the down market
    The reverse mortgage industry has taken a bit of a beating in the past year following significant program changes from HUD, but HECM lenders are nothing if not resilient. We’ve compiled a list of the top 10 players in the space and a summary of the approach each has taken to stay afloat in the current climate.
    Read More
  • Liberty’s Michael Kent on the challenge – and the promise – of the reverse mortgage market

    “There is still significant opportunity in the future for our industry”
    No. 4 on the Top HECM Lender list, Liberty Home Equity Solutions is all in on reverse mortgages. It’s optimism about the HECM market is personified by its president, Michael Kent, whose cheery, ardent belief in the product means that talking to him about reverse mortgages can have the unintended side effect of also making you a proponent of reverse mortgages.
    Read More
  • Ocwen completes $360 million acquisition of PHH, Glen Messina takes over as CEO

    Former PHH CEO assumes leadership of newly combined company
    PHH Corp. is now officially part of Ocwen Financial, as Ocwen’s $360 million acquisition of PHH is now complete, the companies announced Thursday morning. But those aren’t the only big changes for Ocwen and PHH. In conjunction with the deal’s closing, former PHH CEO Glen Messina has officially taken over as president and CEO of Ocwen.
    Read More
  • Ocwen’s $360 million acquisition of PHH to close in days

    Deal gets thumbs-up from regulators, but NYDFS has some conditions
    Ocwen Financial’s $360 million acquisition of PHH Corp. is set to close within the next two weeks after approvals are received from all relevant regulatory agencies and governmental entities, the companies announced Friday morning. But the companies didn’t skate through the approval process totally unscathed. Finalizing the deal comes with some conditions from the New York Department of Financial Services, which has long been a thorn in Ocwen’s side.
    Read More
  • The National Mortgage Settlement is officially over

    Monitor’s office to shut down by end of 2018
    One of the vestiges of the financial crisis is now officially in the past. The National Mortgage Settlement, the epic, massive mortgage servicing settlement between the federal government, 49 states (all excluding Oklahoma), and five of the nation’s biggest banks and mortgage servicers, is now done and complete. RIP.
    Read More
  • From HW Magazine

    2018 Women of Influence: Adrienne Coffin

    Senior Vice President and Deputy General Counsel and Contracts at Ocwen Financial
    Adrienne Coffin, Ocwen senior vice president and deputy general counsel, helped plan and execute an agreement with New Residential to convert its existing mortgage servicing rights to fully owned MSRs. Since 2015, Coffin has led the legal side of negotiations with New Residential. Working closely with the business teams, Coffin helped facilitate the 2017 project through its many phases and several months of negotiations in order to reach this agreement and further the expansion of the relationship between Ocwen and New Residential.
    Read More
  • Ocwen reports 'higher-than-hoped' $30 million loss

    But that’s still better than 2017
    Ocwen Financial continues to lose money, posting yet another loss, however, the company pointed out that the losses continue to grow smaller. Much of the company’s losses can be contributed to ongoing court fees and legal battles, which it continues to face in states across the U.S., and an ongoing restructuring effort.
    Read More
  • Ocwen dumps Fitch, names interim CEO

    Ending contract with ratings agency, also names replacement for departing CEO
    Over the years, Fitch Ratings has frequently commented about Ocwen Financial, issuing reports and ratings actions about the nonbank’s business dealings, trials and tribulations. Well, that’s about to come to an end. But that's not the only big news that Ocwen made on Monday.
    Read More
  • Altisource says CFPB will not fine company over relationship with Ocwen

    REALServicing at the center of CFPB probe
    Just over a year ago, Altisource Portfolio Solutions disclosed that the Consumer Financial Protection Bureau was investigating the company’s relationship with Ocwen Financial, but now, it looks that investigation is over. Altisource revealed Thursday that the CFPB told the company that its investigation has been completed and that the agency will not pursue an enforcement action against the company.
    Read More