Tim Rood is the Co-Founder and Chairman of the Collingwood Group, a Washington, D.C.-based advocacy group for the housing and mortgage industries. Collingwood works to identify and secure business ...
Read More »Streamlining the Mortgage Process
On Friday, February 9, MountainView Financial Solutions presented its monthly mortgage servicing rights (MSR) seminar, featuring Tim Rood, Chairman of The Collingwood Group, LLC. Rood presented a webinar ...
Read More »Streamlining the Mortgage Process
On Friday, February 9, MountainView Financial Solutions presented its monthly mortgage servicing rights (MSR) seminar, featuring Tim Rood, Chairman of The Collingwood Group, LLC. Rood presented a webinar ...
Read More »Ocwen Gets Good News; Shares Spike
Ocwen's shares are finally starting to recover since the CFPB and 21 states filed suit against it last month. Following an announcement that New Residential Corporation will acquire Ocwen's mortgage servicing rights, the company's stock rose 46 percent at one point, reaching $3.32 at its highest. Ocwen's shares had dropped more than 50 percent after April's legal allegations.
Read More »Continued Writedowns of MSRs Eroding Investor Confidence
At the peak of the Fed's quantitative easing, MSRs were trading to the tune of four times cash flow.
Read More »How New Servicing Rules Affect Community Lenders
Post-crisis Wall Street reform actions were aimed at preventing larger banks from engaging in risky financial practices. How have smaller institutions been affected?
Read More »Mortgage Servicing Industry Altered by Regulatory Oversight
According to Freddie Mac, in the five year-period between 2008 and 2013, the cost of servicing a performing loan increased 2.6 times (from $59 to $156).
Read More »Ginnie Mae to Reform Document Custody Policies and Management
Today, Ginnie Mae announced its plans to thoroughly update program requirements and infrastructure in relation to loan documents that serve as collateral for securitized pools of loans.
Read More »Ocwen to Use MSRs to Decrease Loan Debt
Today, Ocwen Financial Corporation announced that it will use payments connected with previous mortgage servicing rights (MSRs) sales to pay down $53.2 million of its senior secured term loan, according to the company’s recent 8-K filing with the Securities and Exchange Commission (SEC). As of now, Ocwen still has approximately $939.4 million left outstanding under its senior secured term loan.
Read More »$45 Billion Deal Finalized Between Chase and Ocwen
An Agency mortgage servicing rights deal worth approximately $45 billion between Chase and Ocwen Financial Corp. has been finalized after two and a half months, according to an announcement from Chase on Thursday. Ocwen first announced on March 2 it had signed a letter of intent to sell the $45 billion portfolio, which includes about 266,000 high-quality Fannie Mae loans, to an anonymous buyer.
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