• Ocwen7.85-0.10 -1.26%
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  • Freddie Mac2.47+0.05 +2.07%
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  • Bank of America15.52-0.06 -0.39%
  • Fidelity National Financial36.41+0.02 +0.05%
  • First American40.55+0.15 +0.37%
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Home | Tag Archives: Ocwen

Tag Archives: Ocwen

Ocwen’s Servicer Ratings Upgraded to ‘Positive’


*+-One of the key rating drivers was Ocwen’s commitment to alleviate governance and operational control weaknesses within the company, which include changes to its “three lines of defense” approach to risk management, expansion of regulatory compliance and compliance testing departments.

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Ocwen Reacts to Recent Actions By Credit Ratings Agencies


*+-Ocwen Financial Corp. reacted to the recent developments in the last week that included a ratings upgrade from Moody's and being placed Standard & Poor's CreditWatch list for a downgrade, with a press release on Friday in which the company's president and CEO praised the company's progress and said he was "surprised" by S&P's move.

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Agency MSR Deal Worth $45 Billion Finalized Between Chase, Ocwen


*+-Ocwen first announced on March 2 it had signed a letter of intent to sell the the $45 billion portfolio, which includes about 266,000 high-quality Fannie Mae loans, to an anonymous buyer. Media reports that surfaced later that week indicated that the buyer was Chase, which was confirmed on Thursday by both parties in the transaction. For Chase, purchasing the high-quality Agency loans is consistent with the New York-based bank's strategy of enhancing the quality of its mortgage business.

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Ocwen Agrees to Sell Agency MSR Portfolio Worth $45 Billion


*+-Ocwen Financial has signed a letter of intent to sell the mortgage servicing rights for $45 billion worth of Agency performing loans, according to an announcement on Ocwen's web site late Monday night. The portfolio consists of about 277,000 performing loans owned by Fannie Mae. The approximate unpaid balance of the loans is approximately $45 billion. According to the announcement, Ocwen expects the deal to close by the middle of the year.

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Ocwen Responds to Allegations, Accuses Investors of Pushing Homeowners to Foreclosure


*+-Atlanta-based mortgage servicer Ocwen Financial has responded to a Notice of Nonperformance filed on Friday by law firm Gibbs & Bruns on behalf of investors BNY Mellon, Citibank, Deutsche Bank, HSBC, US Bank, and Wells Fargo. Monday, Ocwen attorney Richard A. Jacobsen responded to the allegations with the following statement: "Ocwen continues to be committed to meeting all of its servicing obligations in accordance with its contractual arrangements in the over 2,500 Trusts that it services, and in full cooperation and compliance with its industry regulators. Your clients, on the other hand, are asking Ocwen to turn its back on the Trusts as a whole, on the borrowers, and on public policy. Ocwen declines to do so and reserves all its rights and remedies."

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