Reverse mortgage endorsements fell 6.1% between March and April, according to the latest data from Reverse Market Insight, but the research firm still sees signs of optimism amid the downward-pointing red arrows. FHA-approved Home Equity Conversion Mortgage lenders endorsed 5,036 loans last month, down from 5,364 in March — but still good enough for the […]

Ocwen Financial Corporation (NYSE: OCN) posted a $32.6 million loss in the first quarter of 2017, but despite that news — and its recent raft of regulatory issues — CEO Ron Faris struck an upbeat and at times defiant tone on its quarterly earnings call Wednesday morning. That loss does represent an improvement from the […]

After enduring more than a week of bad press, investors in Ocwen Financial Corporation (NYSE: OCN) woke up to some brighter news Monday morning. The West Palm Beach, Fla.-based servicer announced the planned transfer of about $117 billion in mortgage servicing rights to New Residential Investment Corporation (NYSE: NRZ), a New York City-based real estate […]

Reverse mortgage endorsements declined between January and February 2017, but the overall total remains up from the same span last year, according to new data from Reverse Market Insight, Inc. Through the first two months of 2017, Home Equity Conversion Mortgage originators endorsed 8,997 loans, a gain of 6.3% from the same period in 2016 […]

Agencies from 21 states across the nation sent shockwaves through the lending industry last week when they issued cease-and-desist orders against Ocwen Financial Corporation (NYSE: OCN), preventing the servicer from acquiring new mortgage servicing rights and originating new loans — and, in the case of Massachusetts, forcing it to transfer its existing portfolio. But according […]

Ocwen Financial Corporation (NYSE: OCN) opened a second line of attack against its regulatory enemies Wednesday morning, filing motions that request an early decision in a court case that could declare the Consumer Financial Protection Bureau unconstitutional — and, in turn, invalidate a federal lawsuit that the CFPB filed against Ocwen last week. After submitting […]

Faced with a wave of enforcement actions from 21 states, the District of Columbia, and the federal government last week, nationwide mortgage servicer Ocwen Financial Corporation (NYSE: OCN) on Tuesday struck back, filing motions for emergency restraining orders against actions taken by the states of Illinois and Massachusetts. Massachusetts levied perhaps the strictest penalties on […]