This past week, RMD readers continued to turn to us for insight on how a decision made in the United Kingdom could eventually affect Home Equity Conversion Mortgages in a big way, as well as the news of a major shake-up coming at a top servicer. Before you head off into the first weekend of […]

Nationstar Mortgage Holdings, Inc. (NYSE: NSM) turned in a $20 million loss for the second quarter, but reported a 4.5-basis-point adjusted profit on its servicing portfolio. Nationstar barely mentioned Champion Mortgage, its reverse mortgage servicing arm, on Thursday’s earnings call or in its associated financial statements. According to a single line item in an 8-K […]

The beleaguered Ocwen Financial Corporation (NYSE: OCN) turned in a net loss of $44 million in the second quarter of 2017, hamstrung by continued payments related to a host of regulatory issues. Those costs include $33.6 million in settlement payments and $5.6 million in legal defense expenses related to regulatory actions by the Consumer Financial Protection […]

It’s almost the weekend — and if you count Labor Day as a hard-and-fast marker, there’s only a precious few summer weekends left! We here at RMD hope you get out and enjoy this one, wherever you may be and whatever you may have planned. But before you head out the door, here’s our weekly […]

Ocwen Financial Corporation (NYSE: OCN) moved one step closer to finalizing a major servicing transfer deal with New Residential Investment Corp. (NYSE: NRZ), a transaction that could net $400 million for the beleaguered Ocwen. The West Palm Beach, Fla.-based originator and servicer announced a master agreement with New Residential, under which Ocwen will sell off […]

Ocwen Financial Corporation (NYSE: OCN) on Thursday announced that has reached a $56 million settlement over a federal class-action lawsuit, the latest in a line of issues for the troubled servicer. The lawsuit stemmed from alleged problems with restatements in Ocwen’s 2013 and 2014 financial statements, as well as a 2014 consent decree from the […]

Issuers of Home Equity Conversion Mortgage-backed securities (HMBS) are on pace to beat their 2016 figures despite a lack of seasoned loan pools, according to the latest data from New View Advisors. “Despite the much-reported slowdown in HECM endorsements, HMBS issuance remains robust, aided by growth in tail issuance and without highly seasoned pools,” the […]