Freddie Mac has quietly started extending credit to nonbanks that issue mortgages, a move it says will help the companies maintain access to a crucial stockpile of cash if their home loans go sour.
Ocwen Financial Corp. got back in the black during the first quarter after selling New Residential Investment Corp. $110 million in economic rights to mortgage servicing.
The real estate investment trust is issuing $450 million of five-year notes backed by rights to excess servicing strips of Fannie Mae loans.
Banks would welcome a proposal to loosen Basel III capital restrictions because it would make holding mortgage servicing rights easier and stem the recent exodus of depositories from the servicing business, executives said.
A new settlement with Massachusetts resolves all outstanding administrative actions against Ocwen Financial Corp. by a group of 30 states, but two states' legal actions against the servicer remain outstanding.
There was a modest decline in hurricane-related delinquent mortgages in February, a sign that there are lingering problems in the affected markets.
Incenter Mortgage Advisors is putting up for bid a $712.8 million package of government-sponsored enterprise and Ginnie Mae mortgage servicing rights concentrated in the Southeast.
From investor angst to regulatory scrutiny, here's a look at three obstacles that must be addressed before Ocwen Financial can acquire PHH Mortgage.
Ocwen Financial Corp.'s acquisition of PHH Corp. will help the nonbank servicer rebuild scale that's been diminished by years of regulatory restrictions and the decline in distressed mortgage volume brought about by improvements in the overall housing market.
From accelerating its subservicing transformation to overcoming regulatory obstacles, here's a look at three reasons behind Ocwen Financial Corp.'s $360 million acquisition of PHH Corp.
With few foreclosed homes left to pick up on the cheap, the biggest landlords are buying, or building, new single-family homes to pad their portfolios; mortgages on these properties could show up as collateral in rental bonds.
A new due diligence firm created by a trio of former Clayton Holdings executives wants to shake up a static business model.
The acting head of the Consumer Financial Protection Bureau can utilize "look-backs" of mortgage servicing and underwriting rules to push for significant changes.
The weighted average FICO credit scores of securitized reperforming loans are deteriorating a little, according to a DBRS study of the bonds.
MountainView is brokering a nonrecourse $3.5 billion package of Fannie Mae and Freddie Mac mortgage servicing rights on behalf of an unnamed seller.
Early-stage mortgage delinquencies had their largest year-over-year gain during September in over eight years, a direct result of Hurricanes Harvey and Irma.
Securitization of nonperforming home equity conversion loans was pioneered by Nationstar; FAC's inaugural deal may be outstanding longer.
A provision in the original Senate tax reform bill would have required companies acquiring mortgage servicing rights to pay taxes upfront for their anticipated servicing income.
New Residential Investment Corp. is planning to purchase Shellpoint Partners in the first half of next year for $190 million with an additional earn-out over the next three years.
The vast majority of default servicing professionals are investing in "significant" REO property improvements to increase resale values in a hot housing market.
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