Items Tagged with 'PIMCO'

ARTICLES

  • PIMCO hits secondary market with first non-QM mortgage bond offering

    $382.45 million deal contains loans originated by Capital One
    PIMCO, once a major player in the secondary mortgage market, is making a new mortgage play, as the bond giant is about to enter the secondary market for loans that don’t fit into the Qualified Mortgage box with a $382.45 million mortgage bond offering backed by loans originated by Capital One.
    Read More
  • Wells Fargo to pay $43 million to settle pre-crisis RMBS trust lawsuit

    Reaches settlement with investors, including BlackRock and PIMCO
    In the past few years, Wells Fargo, once thought of as a shining example in the financial services industry, has been dragged down by scandal after scandal followed by settlement after settlement. Well, guess what? It’s a day that ends in "y," and that means it's time for another Wells Fargo settlement.
    Read More
  • Ocwen cleared of wrongdoing in multibillion dollar mortgage bond fight

    Faced allegations of negligence from bond investors, including BlackRock, Pimco
    Early in 2015, a group of mortgage bond investors that reportedly included BlackRock, MetLife, and Pimco accused Ocwen Financial of violating its duties as a mortgage servicer by failing to properly collect payments on $82 billion of home loans, thereby costing the investors $26 billion. Now, after a yearlong independent investigation found no evidence of the litany of allegations made by the investors, Ocwen is off the hook.
    Read More
  • Citigroup sued over billions in mortgage debt losses

    PIMCO, other investors file lawsuit
    Top banks are still dealing with the aftermath of the financial crisis. In the most recent court battle, Pacific Investment Management Co and other investors have sued Citigroup over the bank's alleged failure to properly monitor toxic securities backed by more than $13.8 billion in mortgage loans.
    Read More
  • HSBC facing $34 billion mortgage debt lawsuit

    BlackRock, PIMCO, others proceed as plaintiffs
    According to the Reuters, the judge dismissed some claims, including for negligence and negligent misrepresentation. She also gave the plaintiffs 30 days to amend their complaints, and scheduled a June 24 conference. Looks like this is going to happen.
    Read More
  • Ocwen fires back at “disingenuous” charges of negligence

    Accuses mortgage bond investors of being "pro-foreclosure"
    Ocwen Financial is doubling down in its fight against a group of mortgage bond investors that accused the nonbank of failing to properly collect payments on mortgage loans and breaching its bond covenants, charging the investors, which include BlackRock, MetLife, and PIMCO, of having a “pro-foreclosure, anti-modification” agenda.
    Read More
  • BlackRock discloses ownership stake in Altisource

    Mortgage bond investor also reportedly threatening to sue Ocwen
    A Monday filing with the Securities and Exchange Commission shows that BlackRock is more than an interested party in the mortgage-backed securities whose loans are serviced by Ocwen and its affiliates. BlackRock also owns a substantial stake in Altisource Residential.
    Read More
  • Ocwen: Mortgage bond investors mislead public, push foreclosures

    Fires back at “baseless, groundless” charges of mortgage payment negligence
    Ocwen fired back at claims of mortgage payment negligence, saying that the mortgage bond investors that accused it of failing in its duties as servicer have ulterior motives. “Your letter obscures the ultimate objective of your investor clients: to stop servicers from modifying loans and force them to foreclose on and evict as many struggling homeowners as quickly as possible,” Ocwen said in response.
    Read More
  • Ocwen sued by investors for mortgage payment negligence

    Preparing to sue embattled nonbank
    Some of the country’s biggest mortgage bond investors, reportedly including BlackRock, MetLife, and Pimco, are preparing to sue Ocwen, saying that the beleaguered nonbank failed to properly collect payments on $82 billion of home loans.
    Read More