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Home | Tag Archives: Nationstar

Tag Archives: Nationstar

Servicing Temporarily Restricted for Nationstar Last Year

Citing people familiar with the matter, the Wall Street Journal reported Tuesday that Nationstar, a large mortgage processor with millions of mortgages in its portfolio, was temporarily suspended from buying the rights to home loans backed by Fannie Mae and Freddie Mac because of concerns that the servicer was under capitalized.

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Lawsky to Look at Fee-Based Services at Non-Banks

Superintendent Benjamin Lawsky of New York's Department of Financial Services said the agency plans to dig into fee-based ancillary services at non-banks such as Ocwen andNationstar. While Lawsky said there's "nothing inherently wrong" with companies and affiliates providing ancillary services—ranging from debt collection to loan sales—he asserted that a lack of regulatory oversight up to this point has resulted in "potentially conflicted arrangements" between servicers and their affiliates.

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California Foreclosure Starts Approach 8-Year Low

For three straight quarters, California foreclosure starts remain little changed, hovering at a level last seen in early 2006. According to a market study released by DataQuick, steady economic growth and higher home values are responsible for the steady pace of new foreclosures.

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Fitch: RMBS Servicers to See a “New Normal”

In a press release issued by Fitch Ratings, the company comments that the past year has seen a "sea change" in who is servicing severely delinquent U.S. mortgage loans—and how they are being serviced. Fitch found that 2013 saw many portfolios of non-agency residential mortgage-backed securities (RMBS) mortgage servicing rights (MSR) move from banks to non-bank servicers.

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Regulator Concerned Over Nationstar’s ‘Explosive Growth’

Benjamin Lawsky, the superintendent of the New York State Department of Financial Services (NYSDFS), issued a letter to Nationstar Mortgage Holdings, acknowledging the agency "has significant concerns that the explosive growth at Nationstar and other nonbank mortgage servicers may create capacity issues that put homeowners at risk."

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Feature: New World Order

The veterans of this business can remember when REOs ran in the neighborhood of 150,000 a year, delinquency rates were just around 4 percent, and you only needed a credit score of 620 to qualify for a prime mortgage loan. But the housing finance industry, and default servicing especially, has changed. In the cover story of it's September issue, DS News looks at the many factors--from a slew of new regulatory mandates to an altered public perception of debt obligations--that have altered the business into something far from customary.

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2013 in Review: Major MSR Deals

The fizzle of 2012's refinance boom and the publishing of new regulatory guidelines took their toll on origination numbers, but it was a decidedly different story for mortgage servicing rights (MSR) deals. DSNews.com takes a look back at some of the biggest wheelers and dealers in the MSR world over the past year, including Nationstar, Ocwen, Walter Investment Management Corp., and Two Harbors, among others.

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Nationstar Shifts Focus to Servicing

Mortgage originators and servicing companies are facing the reality of decreasing new loan volumes and the entrance of new players to the industry, forcing them to reassess where the best sources of revenue can be found. Following an abrupt drop in its stock price, Nationstar recently announced the sale of its wholesale channel, indicating a shift toward its servicing business, and others appear to be following suit.

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