Ocwen Prevailing in Face of Disgruntled Non-Agency MBS Investors August 12, 2015 Brandon Ivey Ocwen faces the potential loss of non-agency MBS servicing on two fronts but so far investors are not pulling the trigger...Read More
Plenty of Nonperforming Mortgages are Being Securitized, Just Not Publicly August 12, 2015 Paul Muolo About three years ago, some investors – private equity firms and hedge funds in particular – started purchasing NPLs as a cheaper alternative to buying foreclosed homes.Read More
Wells Fargo Trims HELOC Minimum to $10,000 for Most States August 12, 2015 Paul Muolo A spokeswoman for Wells noted that loan volumes for closed-end seconds “was a small percentage of our business.” Read More
Thanks to China, Another Refi Wave May be Upon Us. Or Not. MSR Markdowns? August 12, 2015 Paul Muolo If rates continue to head south it could result in large hedging losses and markdowns on mortgage servicing rights.Read More
Short Takes: Subprime Lender Expands Into NC / Altisource Hopes to Repurchase Stock / Invitation Sells Homes in Bulk to… / New Applications Just About Flat / Wells’ Mortgage Chief Heid to Retire / Legal Costs for VA Foreclosures August 12, 2015 George Brooks and Paul Muolo This just in: Wells Fargo mortgage chief Mike Heid to step down...Read More
First Tennessee Shows Strong Growth in Warehouse Unit August 11, 2015 Paul Muolo First Tennessee has 172 warehouse customers, compared to 160 a year ago.Read More
Settlement Monitor Cites Ocwen for Another Failed Metric, But Offers Praise Too August 11, 2015 Brandon Ivey Meanwhile, Ocwen has been shifting as many of its servicing workers overseas as possible... Read More
Sale of RoundPoint to PIMCO Appears to be Dead – Again August 11, 2015 Paul Muolo Both parties, to date, have declined to discuss the situation.Read More
VA Securitization Gains in 2Q, but FHA Really Takes Off August 11, 2015 George Brooks Meanwhile, $69.1 billion in FHA purchase and refi loans were securitized in 2Q, a whopping 93.9 percent sequential gain.Read More
Five Oaks Takes Loss, Hopes to Issue Another Jumbo MBS in September August 11, 2015 Brandon Ivey Five Oaks issued its first jumbo MBS in April and plans for another deal by the end of September.Read More