Of those loans, about 68 percent were owned, insured, or guaranteed by Fannie Mae, Freddie Mac, or Ginnie mae. walter investment management will acquire the Fannie Mae mortgage servicing rights (MSR) portion of ResCap’s portfolio, which represents a balance of about $50.4 billion.
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ATLANTA, Dec. 12, 2014 (GLOBE NEWSWIRE) – Ocwen Financial Corporation (NYSE:OCN), a leading financial services holding company, today announced the purchase of 1,705 delinquent FHA-insured loans with a principal balance of $253.1 million from Ginnie Mae pools (Ginnie mae ebo loans) for which Ocwen Loan Servicing, LLC, was already the servicer.
Altisource Portfolio. Ocwen would acquire a total of $203.7 billion of unpaid principal balance as of August 31, 2012, which would include $126.6 million of mortgage servicing rights, including $21.
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Ocwen buying portfolio of delinquent Ginnie Mae mortgages Altisource Portfolio. Ocwen would acquire a total of $203.7 billion of unpaid principal balance as of August 31, 2012, which would include $126.6 million of mortgage servicing rights, including $21.
Last Friday (12/12/2014) Ocwen (OCN) announced the purchase of $253mm Ginnie Mae early buyout (EBO) loans. On the surface this looks like good news as it appears that OCN is back on their feet doing business again. Reading between the lines, I see this as a confession that they lack liquidity. 1) The company was obligated to buy those loans.
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The nonbank is moving now to purchase Ginnie Mae delinquencies even as the Treasury Department is reviewing the backdating letters scandal. Ocwen buying 3.1m portfolio of delinquent Ginnie Mae.
The company’s large portfolio of Mortgage. delinquent loans and foreclosures Advances on delinquent P&I and escrow payments. outpace the buy side demand Ocwen portfolios are likely to dominate the market during the first half of. Mae, Freddie Mac, Ginnie Mae and Private Investor MSR’s . Phoenix Analytic Services, Inc.
· To keep Ocwen healthy,’ its top client may buy a 5% stake January 1, 1970 / in Uncategorized / by Lindsay In an echo of the rescue deals of 2007 and 2008, New Residential’s CEO framed the transaction as something undertaken to benefit the entire industry. Rise in hurricane recovery times could strain mortgage servicers
Ocwen acquires delinquent Ginne Mae mortgages. Ocwen Financial Corp., which is currently dealing with a mountain of regulatory issues, has purchased 1,705 delinquent FHA -insured loans with a principal balance of $253.1 million from Ginnie Mae pools (Ginnie Mae EBO Loans) for which Ocwen Loan Servicing LLC, was already the servicer.