Ocwen the Only Firm to Grow Subprime Servicing in 2Q12, Performance Declines
August 17, 2012
Boosted by its acquisition of Saxon Mortgage Services, Ocwen Financial was the only major servicer to increase its subprime portfolio in the second quarter of 2012. And after three consecutive quarters of improvement, subprime performance deteriorated in the second quarter. An estimated $505.0 billion in subprime mortgages were outstanding as of the end of the second quarter of 2012, according to Inside Nonconforming Markets, down 3.4 percent from the previous quarter as subprime mortgage originations ... [Includes one chart]