Ocwen buying portfolio of delinquent Ginnie Mae mortgages

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Delinquent loans were transferred to either Saxon or Ocwen. In other cases where a seller/servicer merely encounters financial difficulties, it seems reasonable to expect based upon past experience that FNMA, FHLMC and GNMA Mae would likely acquiesce in the voluntary transfer of servicing, as in the case of Ocwen in 2015.

Walter Investment Corp. (WAC) is one of the few publicly traded companies whose focus is mortgage servicing. The industry is very much in its infancy with the large banks just starting to accept the.

Ocwen Financial Corporation, incorporated on August 22, 1991, is a financial services holding company. The Company, through its subsidiaries, originates and services loans. The Company’s segments.

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Ocwen Financial (OCN) Unit Completes ResCap Asset Acquisitions.. $38.5 billion in Ginnie Mae MSRs, $42.1 billion in master servicing MSRs, $25.9 billion in subservicing contracts, $1.5 billion.

A few months later, ""Ocwen and OneWest Bank"":http://dsnews.comarticles/ocwen-enters-deal-with-onewest-to-buy-78b-in-msrs-2013-06-14 announced a $2.5 billion deal for a $78 billion portfolio..

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By Mortgage Daily staff A pool of distressed government home loans has been purchased by a unit of Ocwen Financial Corp., and more such deals could be ahead. The Atlanta-based firm said Friday that the delinquent Federal Housing Administration mortgages were acquired from Ginnie Mae Pools.

Ocwen Financial is still under the gun – and investigation – but they’re still punching through the latest round. The New York Department of Financial Services has put the kibosh on any bulk purchases of MSRs after it killed their deal with Wells Fargo ( WFC ), so the nonbank has turned its gaze to 1,705 delinquent Federal Housing Administration -insured loans with a principal balance of $253.1M from Ginnie Mae pools.

Non-performing Loan Sales. Fannie Mae’s sales of non-performing loans, which are part of the Federal Housing Finance Agency’s 2015 Conservatorship Scorecard, are intended to reduce the number of seriously-delinquent loans that Fannie Mae owns, to help stabilize neighborhoods and to help meet the portfolio reduction targets required under the Senior preferred stock purchase agreement with the.

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Under the joint bidding arrangement, Walter Investment Management Corp. will acquire the Fannie Mae mortgage servicing rights (MSR) portion of ResCap’s servicing portfolio, representing approximately $50.4 billion in UPB, as well as the origination and capital markets platform.