Tozer believes that with depositories in control of the Ginnie market, the regulation of lender/servicers has essentially been outsourced to banking regulators who have “vast experience” in safety and soundness.
Why short Altisource? This source reasons that as real estate values continue to improve and foreclosures slow, Altisource will have less to do going forward...
Company CEO Brian Hale downplayed the news of an offering book, noting that it hired an investment banker because over the past 12 months Stearns has been approached by “a number of interested investors.”