Ocwen buying portfolio of delinquent Ginnie Mae mortgages

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.

Our Company. At Ocwen, our mission is to delight our customers through caring service and innovative home-ownership solutions. We offer loan investors (our servicing clients) a variety of tailor-made servicing, sub-servicing, special servicing and stand-by servicing solutions for both residential and commercial loans and REO.

Many experts say they’re safer now and are worthy of a small part of the ordinary investor’s portfolio. Some funds holding non. will be paid even if homeowners default on their loans. Ginnie Mae.

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The government national mortgage Association (commonly referred to as Ginnie Mae and abbreviated to GNMA) is a U.S. government corporation that guarantees the timely payment of principal and.

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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 , 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. Ocwen is already the servicer on the portfolio.

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Loan servicing is the process by which a company collects interest, principal, and escrow payments from a borrower. The vast majority of mortgages are backed by the government or government-sponsored entities (GSEs) through purchase by Fannie Mae, Freddie Mac, or Ginnie Mae (which purchases. and may also include activities such as monitoring delinquencies, workouts/.

Market for Mortgage Servicing Rights Heats Up – 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.

Ocwen Wins Bid for ResCap’s Mortgage Portfolio 10/24/2012 BY: KRISTA FRANKS BROCK Ocwen Loan Servicing, LLC and Walter Investment Management Corp. outbid Nationstar Mortgage Holdings and received preliminary approval for the purchase of Residential Capital’s mortgage servicing and origination assets.

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