MSR

Servicers of loans not related to the government most often capitalized missed payments and converted them into a deferred, non-amortizing balance, said Vadim Verkhoglyad of dv01.

The San Diego-based company produced $10.6 billion in the fourth quarter, and has done $6.1 billion in the first two months of 2021.

The expected pricing range is between $19 and $21 per share if all 14.4 million shares to be offered are sold.

Despite that decline, the company notched its second-best quarterly earnings ever over that period.

A portion of the proceeds from the offering, announced days following its IPO filing, will go toward the repayment of its mortgage servicing facility.

The regulator's demands for ending the action were excessive, Ocwen claimed.

Under the agreement, Oaktree could purchase up to a 4.9% stake in Ocwen when the deal closes, and warrants to purchase an additional 3%.

The problem in the sector boils down to a lack of portability of data, whether it’s digital or contained in documents, that can be trusted between parties, LoanLogics Chief Product Officer Dave Parker argues.

The results are in the middle of the range provided before the company went public in October.

When new lending volumes start to recede, even with the FOMC’s actions, the shoals of credit and operational risk lurking just beneath the surface will emerge, columnist and analyst Chris Whalen says.

The sector’s leaders are hoping for better in 2021, while not forgetting lessons learned about the market’s risks in 2020.

With the 10-year Treasury yield getting a boost due to Pfizer’s COVID-19 vaccine news this week, KBW predicts insurers and title underwriters will fare best as recovery continues.

How we resolve millions of delinquent mortgages due to COVID is the only question that matters.

The company had lower losses on its mortgage servicing rights investments compared with the second quarter.

Hint: It's not all about the money. Company leadership enumerates the intangible benefits of going public.

The pandemic has turned stress-testing around liquidity from theory into an actual case study. And while lenders shore up their cash reserves, they explain why many have been hesitant to take advantage of Ginnie Mae's Pass-Through Assistance Program.

Minus various expenses including corporate, legal and servicing rights valuation, Ocwen had adjusted pretax income of $13.5 million.

The company expects to get between $17 and $19 per share.

The agreement with Florida ends the saga that began in April 2017, when several states sued the company. However, the CFPB's case filed at the same time remains active.

Called it a better all-around process for United Wholesale Mortgage to become a publicly traded company.