Items Tagged with 'MSR'

ARTICLES

  • Ocwen settles with Maryland, but settlement carries stiffer penalties than previous states

    Fined $500,000, must provide $273,500 to borrowers, and more
    In the last several months, Ocwen reached settlements with nearly every one of the 31 states that took regulatory actions against the nonbank last year over alleged escrow and other mortgage servicing issues. Ocwen continued that settlement streak this week, reaching a settlement with Maryland, but while many of the previous settlements carried similar terms, the Maryland settlement goes even further and carries stiffer penalties.
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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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  • 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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  • 2Q17 earnings prove recent Flagstar acquisitions paid off big time

    [Charts] Here are the long-term mortgage plans
    The earnings report is out for how Flagstar Bancorp’s two major acquisitions earlier this year fared for the bank, revealing a roadmap on how it hopes to position itself for success in today’s competitive market. Looking over the second-quarter earnings release, the bank outlines its plans for future growth opportunities. These charts break down its long-term mortgage plans.
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  • PHH finalizes sale of Freddie Mac mortgage servicing rights portfolio to New Residential

    Moves closer to complete sale of MSR portfolio
    At the end of last year, PHH announced that it planned to sell off its entire mortgage servicing rights portfolio in a massive deal with New Residential Investment. Now, that process is moving closer to being complete, as PHH disclosed Monday that it recently completed the sale of “substantially all” of its Freddie Mac MSR portfolio to New Residential.
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  • Fitch: Here's the impact of Ocwen's massive MSR deal with New Residential

    Sale would be for approximately 80% of Ocwen's non-agency RMBS portfolio
    Ocwen Financial may be facing serious allegations from the CFPB and a hefty group of state regulators about the company’s mortgage servicing practices, but that isn’t stopping New Residential Investment Corp. from contracting Ocwen to subservice a huge portfolio of loans. According to a new report from Fitch Ratings, that deal will not have an impact on Ocwen’s servicer ratings. But, as Fitch notes, the deal will certainly have an serious impact on Ocwen’s servicing portfolio.
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  • MBA Secondary: Experts see cause for optimism in MSR market

    But keep an eye on corporate tax rate changes
    Compared to the state of the MSR market this time last year, experts on a panel about MSR liquidity at the MBA Annual Secondary Conference on Monday saw reason for optimism in 2017. But headwinds remain, including some challenges related to Basel III and the possible reduction of the corporate tax rate.
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  • Ocwen nearing massive MSR deal with New Residential

    New Residential to buy MSRs for $425 million, acquire nearly 5% of Ocwen
    Amid some concerns that New Residential Investment may pull some of its mortgage subservicing from Ocwen Financial, the two companies are reportedly close to a massive mortgage servicing rights deal that would alleviate some of Ocwen’s business concerns and make New Residential a significant investor in Ocwen itself.
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  • Ocwen expects another loss in 2017 thanks to NYDFS, CFPB regulatory issues

    CEO: We believe we have earned the right to acquire MSRs again
    Despite the California Department of Business Oversight removing the state's mortgage servicing restrictions on Ocwen Financial, the nonbank is still prohibited from acquiring mortgage servicing rights in bulk, thanks to the company’s previous settlement with the New York Department of Financial Services. And those restrictions and other "regulatory challenges" will likely lead to another yearly loss for the nonbank.
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