Ocwen buying portfolio of delinquent Ginnie Mae mortgages

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OCWEN CARES: Helping homeowners and communities is what we do. Ocwen Financial Corporation and its subsidiaries, PHH Mortgage and Liberty Home Equity Solutions, are committed to helping our customers save money, build equity and, most importantly, stay in their homes.

Last Friday (12/12/2014) Ocwen (OCN) announced the purchase of $253mm Ginnie Mae early buyout (EBO) loans. On the surface this looks like good news as it appears that OCN is back on their feet doing business again. Reading between the lines, I see this as a confession that they lack liquidity. 1) The company was obligated to buy those loans.

WASHINGTON – With an improving economy, higher-quality originations and declining delinquencies, the market for mortgage servicing rights is. 75.8% of mortgages. However, nonbanks service 35% of.

ATLANTA, Dec. 12, 2014 (GLOBE NEWSWIRE) — Ocwen Financial Corporation (NYSE:OCN), a leading financial services holding company, today announced the purchase of 1,705 delinquent FHA-insured loans with a principal balance of $253.1 million from Ginnie Mae pools (Ginnie Mae EBO Loans) for which Ocwen Loan Servicing, LLC, was already the servicer.

Report Acknowledges Ocwen Has Cooperated and is Committed to Reliability. ATLANTA, Dec. 16, 2014 (GLOBE NEWSWIRE) – Ocwen Financial Corporation (NYSE:OCN), a leading financial services holding company, has been working closely with the Office of mortgage settlement oversight (OMSO) on two issues identified in the report covering the first six months of 2014, the National Mortgage.

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The NPLs in this transaction are being serviced by Ocwen Financial, according to Freddie Mac. The loans are deeply delinquent, which means in many. housing agencies (freddie mac, Fannie Mae, Ginnie.. The Residential Mortgage servicing rights march 16-17, 2015 Agenda; This is a past event..

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The growing exposure of the FHA’s $865 billion insured loan portfolio to delinquencies. the Government National Mortgage Association (Ginnie Mae), a wholly-owned US government corporation. Ginnie.

Ocwen buying portfolio of delinquent Ginnie Mae mortgages If Ocwen is experiencing a tough time, they’re not doing it lying down. The nonbank is moving now to purchase Ginnie Mae delinquencies even as the Treasury Department is reviewing the backdating letters scandal.