Ocwen Making Headway on GSE Servicing Sales, But It’s Unclear Why the Firm Is Holding Onto its Ginnie Rights
May 14, 2015
Since late February, Ocwen Financial has struck four different deals to sell $89.4 billion in Fannie Mae/Freddie Mac servicing rights. Although buyer interest in the high-quality receivables was strong, getting those transactions past the Federal Housing Finance Agency has been a different matter. Industry advisors note that in general Fannie and Freddie promise their seller/servicers they will approve MSR transfers within 60 days unless there’s a problem. Last summer, the approval time was increased from 30 days, a change that did not receive much publicity. The FHFA, on the other hand, offers...
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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