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Home | Tag Archives: FHFA

Tag Archives: FHFA

Ocwen Announces $25 Billion MSR Sale to Nationstar

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This will be the second time in as many months that Ocwen has announced an MSR sale on an Agency portfolio of residential loans to Dallas, Texas-based Nationstar. In February, Ocwen announced its intention to sell the MSR on a portfolio of about 81,000 performing residential loans owned by Freddie Mac with a UPB of about $9.8 billion to Nationstar.

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Report: Freddie Mac to Sell $1 Billion Worth of Non-Performing Mortgage Loans

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Freddie Mac's conservator, the Federal Housing Finance Agency (FHFA), is requiring Freddie Mac and its fellow GSE, Fannie Mae, to reduce the number of non-performing residential loans in their portfolios. This will be Freddie Mac's third sale of nonperforming loans since last summer. In August, the Enterprise sold a bundle of NPLs totaling $596 million and one in February that covered $392 in UPB. Sales of NPLs by the two Enterprises generally include loans that are seriously delinquent, which are those that are 90 days or more past due.

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Ocwen to Sell Agency MSR Portfolio with $9.6 Billion in UPB to Green Tree

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According to Ocwen, the portfolio consists of approximately 55,000 performing loans owned by Freddie Mac. The transaction is subject to approval by Freddie Mac and its conservator, the Federal Housing Finance Agency (FHFA), as well as other customary conditions. Ocwen reported that it expects the transaction to close by April 30, 2015, and expects the loan servicing to transfer in May 2015.

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FHFA, Nomura Trial Expected to Continue for a Month

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Nomura, which is headquartered in Japan and is one of the world's biggest banks, is the first financial institution to go to trial out of the 18 lenders FHFA sued in 2011 to recoup U.S. taxpayer costs following the government's $188 billion bailout of Fannie Mae and Freddie Mac in 2008, after which the government seized control of both Enterprises.

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FHFA Director ‘Very Proud’ of Agency’s Progress on Strategic Plan Initiatives

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According to the report, Fannie Mae and Freddie Mac exceeded their $90 billion risk transfer goal. During 2014, the two Enterprises executed credit risk transfers on single-family mortgages with unpaid balance transfers of over $340 billion. As part of the FHFA requirement both enterprises continued to reduce their mortgage portfolios. As of December 2014, Freddie Mac’s portfolio stood at $408 billion and Fannie Mae’s stood at $413 billion, for a combined reduction of $131 billion. Both numbers were significantly under the $470 billion cap required by the Senior Preferred Stock Purchase Agreements.

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