Items Tagged with 'Home Loan Servicing Solutions'

ARTICLES

  • Ocwen ties that bind? Altisource Residential adds former HLSS exec

    Michael Lubin will also serve as senior vice president of AAMC
    In another sign that the relationship between Ocwen Financial and its affiliated companies, Altisource Portfolio Solutions, Altisource Residential Corporation, Altisource Asset Management Corporation, and Home Loan Servicing Solutions, will always be complicated, Altisource Residential and Altisource Asset Management announced Friday that Michael Lubin is joining both companies. Lubin joins from Home Loan Servicing Solutions.
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  • SEC fines Ocwen $2 million for misstating financials; Altisource, HLSS relationships

    Used flawed MSR valuation methods
    Ocwen Financial will pay a $2 million fine after a Securities and Exchange Commission investigation found that the nonbank misstated it financials on several occasions by using a “flawed, undisclosed methodology” to value mortgage servicing rights that were sold to an Ocwen-associated company, Home Loan Servicing Solutions.
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  • New Residential to repay $2.5B in mortgage servicer advances

    S&P downgrades Ocwen, triggers repayment
    Citing an “inadvertent” oversight in a previous downgrade of Ocwen Loan Servicing servicer rankings, Standard & Poor’s announced earlier this week that it was lowering its ranking of Ocwen as a residential mortgage master servicer from “above average” to “below average.” And that move triggered a massive payback from New Residential.
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  • NASDAQ to delist Home Loan Servicing Solutions

    Next shoe in New Residential deal drops
    The next shoe has dropped in New Residential Investment’s acquisition of Home Loan Servicing Solutions. The company announced late Friday that it received a letter earlier in the week from NASDAQ, which stated that the stock exchange is delisting Home Loan Servicing Solutions, effective at the opening of business April 29, 2015.
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  • Ocwen reports loss of $546 million in 2014

    Company finally releases much-delayed 2014 results
    Ocwen Financial spent the last few months preparing its investors for the bad news. And the bad news finally came early Tuesday morning. After delaying its fourth quarter and year-end financial results on multiple occasions, Ocwen disclosed Tuesday that it recorded a preliminary net loss of $546 million in 2014.
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  • FBR predicts: New Residential set to boom

    HLSS deal, other moves place company in “Top Picks”
    In the aftermath of the $1.2 billion acquisition of Home Loan Servicing Solutions, New Residential Investment is only headed one direction – up. Here's why FBR Capital Markets is calling New Residential a "Top Pick."
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  • New Residential terminates merger agreement with HLSS; purchases company instead

    New deal for $1.2 billion; servicing agreement with Ocwen extended
    After Home Loan Servicing Solutions was unable to meet the previously announced merger conditions with New Residential, the companies terminated the merger agreement. Instead, the companies entered into a purchase agreement, plus the relationship with Ocwen isn't going away anytime soon.
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