Yellen Committed to Letting MBS Run Off the Fed’s Balance Sheet February 24, 2015 Thomas Ressler Fed chief Janet Yellen also signaled a continuation of the status quo for interest rates...Read More
Ocwen Mum on When it Will Release Fourth Quarter Earnings February 24, 2015 Paul Muolo Meanwhile, investors are beginning to focus on some of the contractual language in the sale agreement between New Residential Investment Corp., and Home Loan Servicing Solutions...Read More
Short Takes: Next Up, Walter Investment / Why No ‘Big’ Mortgage M&A? / Lay Offs At… / Sterne Agee Slated for Sale / The CFPB, an ‘X-Factor’? February 24, 2015 Paul Muolo and Thomas Ressler We understand from one very good source that a top 30-ranked lender has been quietly trimming staff of late….Read More
Ocwen Agrees to Sell $9.8 Billion of MSRs to Nationstar; ‘New Rez’ Will Buy HLSS February 23, 2015 Paul Muolo New Residential will pay roughly $18.25 a share for HLSS, valuing the deal at $1.3 billion.Read More
Jumbo Market Share Best Since 2002; Wells Dominant Once Again February 23, 2015 Brandon Ivey Wells Fargo remained the most dominant lender in the sector with $42.28 billion of jumbo originations in 2014, down 2.5 percent from the year before.Read More
VA to Issue Final ‘Qualified Mortgage’ Rule in May February 23, 2015 George Brooks Total points and fees may not exceed 3 percent of the total loan amount for loans of $100,000 or more.Read More
Fitch Downgrades More than 100 Non-Agency MBS Serviced By Ocwen Due to Risk of Servicer ‘Disruption’ February 23, 2015 Brandon Ivey Nearly $1.0 billion in non-agency MBS was included in the rating action by Fitch.Read More
Nationstar Agrees to Buy Almost $10B of MSRs From Ocwen; More Deals Ahead? February 23, 2015 Paul Muolo The sale and transfer must first be approved by Freddie and its regulator, the Federal Housing Finance Agency.Read More
The ‘Other’ Ocwen-Nationstar Related Deal: HLSS Being Sold to New Residential February 23, 2015 Paul Muolo Ocwen, which is in the process of liquidating its massive agency MSR holdings, is a subservicer to HLSS.Read More
Short Takes: A Nice Bump for Ocwen’s Share Price / Will Ocwen Unload Non-Agency MSRs Too? / CashCall’s Non-QM Loan / Fidelity Grows Revenues 21 Percent February 23, 2015 George Brooks, Brandon Ivey, and Paul Muolo In case you’re wondering, Ocwen services roughly $208 billion of non-agency product.Read More