Tag Archives: Nationstar

For three consecutive years, the CFPB found error rates at Nationwide of 13 percent in 2012, 33 percent in 2013, and 24 percent in 2014.

On Wednesday, Nationstar posted its Q4 2016 and full year 2016 financial results and gave a hint of key strategies that the servicer will focus on in 2017.

Nationstar's Q3 earnings posted strong operational results across the board in servicing, loans, and technology.

With Walter Investment Management Corp.taking a loss during Q1 and both Ocwen Financial Corp. and Nationstar Mortgage Holdings reporting net losses for Q2, all eyes will fall on Walter to see what their Q2 earnings report holds.

The first quarter this year was not kind to non-bank mortgage servicers, earnings-wise and likewise, the industry has seen that the second quarter has not been so great, either.

The class action suits claim the insurance policies were automatically issued to homeowners at rates approved by lenders, which were much higher than market rates. Homeowners claim they did not have a choice in the matter, hence the term “forced placed insurance.”

The loss will not cause Freddie Mac to need another draw from Treasury since it was only a fraction of the $1.8 billion net worth reserve the Enterprise has under the Preferred Stock Agreement, according to Layton. The dividends paid into Treasury by Freddie Mac remained unchanged at $96.5 billion, which is about $25 billion more than the $71 billion the Enterprise received in a taxpayer-funded bailout in 2008.

Nationstar Mortgage Holdings reported a net loss of $48 million, or $0.53 per share, for the first quarter of 2015 compared with a net income of $19 million ($0.21 per share) for the previous quarter, according to an announcement from the Lewisville, Texas-based residential mortgage servicer on Tuesday morning.

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.

Ocwen Loan Servicing, a subsidiary of Ocwen Financial Corporation, intends to sell the mortgage servicing rights (MSR) on a portfolio of performing loans owned by Freddie Mac with a total principal balance of about $9.8 billion to Nationstar Mortgage, a subsidiary of Nationstar Mortgage Holdings, according to an announcement from Ocwen Financial on Monday morning. There are approximately 81,000 loans in the portfolio involved in the transaction, according to Ocwen's announcement.