Ocwen Closes MSR Joint Venture

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Millennial Purchases Pick Up in March Next: Price, Competition, Speed of Sale Set Housing Market Records Ocwen Closes MSR Joint Venture in Daily Dose, Featured, Journal, News, Secondary Market The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. Glen A. Messina mortgage servicing rights (MSRs) MSR Asset Vehicle LLC Ocwen Financial Corporation PHH Mortgage Corporation Texas Capital Bank 2021-05-07 Eric C. Peck Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Eric C. Peck Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Subscribecenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago 23 days ago 773 Views Ocwen Financial Corporation has announced the completion of a previously announced transaction with funds managed by Oaktree Capital Management LP to operate a mortgage servicing rights (MSR) investment joint venture, MSR Asset Vehicle LLC (MAV).Ocwen and Oaktree will invest up to $250 million of capital into MAV to acquire Fannie Mae and Freddie Mac MSRs. The parties will fund the investment on a pro rata basis equal to their respective ownership interest of 15% for Ocwen and 85% for Oaktree. MAV is currently approved to purchase Freddie Mac MSRs, and expects to receive approval to purchase Fannie Mae MSRs in the near future.“We are very pleased to complete the transaction and begin operating MAV with Oaktree,” said Glen A. Messina, President and CEO of Ocwen. “This is an important component of our growth strategy as it allows us to significantly expand our participation in the bulk market and grow servicing and subservicing on a capital efficient basis.”PHH Mortgage Corporation, a subsidiary of Ocwen, will act as the sole provider of subservicing, portfolio recapture services and certain other administrative services to MAV. The company expects MAV to add up to $60 billion of subservicing unpaid principal balance (UPB) for PHH.Ocwen recently reached multiple agreements with Texas Capital Bank to acquire the Bank’s Correspondent Lending business, which originated approximately $2.4 billion of volume in the fourth quarter of 2020. Ocwen also entered into an agreement with Texas Capital Bank to purchase, in bulk, MSRs attributable to a mortgage loan portfolio approximating $14 billion, with approximately 60,000 loans expected to transfer to the PHH Mortgage servicing platform in Q3 of 2021.“Our recently announced transaction with Texas Capital Bank to purchase $14 billion in bulk MSRs is expected to provide roughly 25% of the targeted servicing UPB for MAV, and we expect to accelerate funding in the third quarter,” said Messina. “We are excited about our alliance with Oaktree and look forward to working with them to reach the full potential of MAV.” Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Glen A. Messina mortgage servicing rights (MSRs) MSR Asset Vehicle LLC Ocwen Financial Corporation PHH Mortgage Corporation Texas Capital Bank Share Save The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Ocwen Closes MSR Joint Venture  Print This Postlast_img read more

An Adult Woman Is Free To Reside Wherever She Wishes And With Whoever She Wishes: Delhi HC Directs Police To Counsel The Parents

first_imgNews UpdatesAn Adult Woman Is Free To Reside Wherever She Wishes And With Whoever She Wishes: Delhi HC Directs Police To Counsel The Parents Karan Tripathi24 Nov 2020 11:55 PMShare This – xDelhi High Court has provided relief to an adult woman who left her home to marry the man of her choice. After taking her consent and wishes into consideration, the court noted that being a major, she has a free will to reside wherever she wants and with whoever she wishes. The order was passed in a habeas corpus petition moved by the family members of the said woman, seeking…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginDelhi High Court has provided relief to an adult woman who left her home to marry the man of her choice. After taking her consent and wishes into consideration, the court noted that being a major, she has a free will to reside wherever she wants and with whoever she wishes. The order was passed in a habeas corpus petition moved by the family members of the said woman, seeking her production before the court. As per the petition, she went missing on 12/09/20. A man named Babloo was identified as a suspect for her being missing from her parent’s house. The said woman was traced and was produced before the court through video-conferencing. The court noted that in her statements made under section 164 of the Criminal Procedure Code, she categorically stated that she went with Babloo of her own free will and accord and that she has married him. In light of these observations, the court directed the concerned woman to reside with her husband Babloo. The court further directed that: ‘We direct the police authorities to escort her to the residence of Babloo. The police authorities shall also counsel the petitioner and the parents of Sulekha not to take the law into their hands or threaten either the woman or Babloo. The mobile phone number of the Beat Constable of the police station where the concerned woman would reside with Babloo should be provided to both Sulekha and Babloo so that they may get in touch with police officials in case of need.’Click Here To Download Order[Read Order]Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

Revised National Litigation Policy Under Process, Centre Tells Delhi HC

first_imgNews UpdatesRevised National Litigation Policy Under Process, Centre Tells Delhi HC Press Trust of India13 Jan 2021 11:05 PMShare This – xThe Centre told the Delhi High Court on Wednesday that a “new and revised” National Litigation Policy (NLP) was in the works and would be in place in times to come.The submission by the central government was made before a bench of Chief Justice D N Patel and Justice Jyoti SIngh during the hearing of a PIL seeking implementation of the NLP launched in June 2010.Additional Solicitor General…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Centre told the Delhi High Court on Wednesday that a “new and revised” National Litigation Policy (NLP) was in the works and would be in place in times to come.The submission by the central government was made before a bench of Chief Justice D N Patel and Justice Jyoti SIngh during the hearing of a PIL seeking implementation of the NLP launched in June 2010.Additional Solicitor General (ASG) Chetan Sharma, appearing for the Law Ministry, told the court that presently there was an application called Legal Information Management and Briefing System (LIMBS) which allows various government departments to see the status of their cases at a glance.He said, “A new and revised NLP would be in place in times to come.”Taking note of the ASG’s submission, the bench simply adjourned the matter to February 12.The PIL by N Bhaskara Rao, a mass communications expert and Shanmugo Patro, a lawyer, has said that NLP was launched in 2010 with the purpose that the government should not involve in frivolous litigation, especially where the stakes are not high.”The policy aimed to transform the government into an efficient and responsible litigant. The underlying purpose of the policy is to reduce government litigation in courts so that valuable court time is spent in resolving other pending issues to enable the average pendency of a case in a court reduced from 15 years to 3 years,” the petition has said.During the brief hearing, Patro told the court that the central government has been over the years claiming before various fora that the NLP would be implemented soon, but till date nothing has been done.He urged the court to issue notice in the matter, but the bench declined to do so at the present stage.The petition has claimed that under the NLP, the government would identify bottlenecks and appeals would not be filed where stakes are not high.The policy would also ensure that all pending cases involving the government would be reviewed to filter frivolous and vexatious matters from the meritorious one.”Cases so identified would be withdrawn, which would also include cases covered by previous decisions of courts. Such withdrawal of the cases would be done in a time bound fashion,” the petition has said.It has further said that “Union of India, however, was not adhering to its own aforesaid policy. Neither it is implementing the policy uniformly nor in totality and was, thereby, causing great injustice to the poor.”Next Storylast_img read more

Scorpion renews awards for drivers with top win totals in each IMCA Modified, Stock region

first_imgOCALA, Fla. (Dec. 11) – Scorpion Racing Products makes winning pay off in two IMCA divisions again in 2015.The Ocala, Fla., high performance parts manufacturer and distributor gives a set of Race Series rocker arms to drivers with the most 40-point feature wins in each of the five regions for IMCA Xtreme Motor Sports Modifieds and in both Arnold Motor Supply regions for IMCA Sunoco Stock Cars.Drivers with the second through fifth highest win totals in each region all receive $100 product certificates.2015 will be Scorpion’s seventh year as a marketing partner with IMCA and third consecutive season as part of the national decal program for Modifieds. All Modified drivers are required to display two Scorpion decals in a designated location on their race car, and provide photographic proof of decal placement to IMCA to be eligible for national point fund shares. Photos can be emailed to Marketing Director Kevin Yoder at the IMCA home office ([email protected]). “Scorpion has been a great partner for the past six years and we’re excited about the early renewal for 2015,” Yoder said. “Solidifying our required decal placement is a top priority in the off season as racers are getting their 2015 wraps done earlier and earlier, so it is great that Scorpion has made that commitment.” Feature win leaders in the five Modified regions this season were Zane DeVilbiss in the West, 30; William Gould in the South Central, 24; Jordan Grabouski in the Central, 18; Chris Abelson in the North Central, 29; and Chris Fleming in the East, 28.Mike Nichols paced Northern Region Stock Car drivers with 32 checkers. Matt Guillaume led the Southern Region with 25 feature wins.The product line at Scorpion also includes lifters, pushrods, valves and valve springs, as well as fuel rail kits and throttle bodies.More information about those products is available by calling 352 512-0800, on Facebook and at the www.scorpionracingproducts.com website.last_img read more

RUSSIA 2018: NFF Secures Eagles’ $2.8m World Cup Funds

first_imgBy Duro IkhazuagbeSuper Eagles campaign at the FIFA World Cup starting in barely 25 days from today in Russia will be devoid of all the trappings that make Nigeria to be in the news for the wrong reasons.THISDAY checks revealed at the weekend that the leadership of the Nigeria Football Federation (NFF) has finally secured the $2.8million it budgeted for a successful outing at the Mundial this summer. In addition to the $2million from FIFA for all the Russia-bound teams, the NFF has also been able to raise the balance $800,000 to complete the World Cup budget.The funds cover the entire agreement the federation reached with Super Eagles players shortly before Nigeria’s friendly against Argentina in Russia last November.As Eagles begin to troop into the Ibom Resort in Uyo today for the planned friendly with DR Congo on May 28 in Port Harcourt, handlers of the three-time African champions sole responsibility is purely technical without going grey over players allowances and bonuses.President of the NFF, Amaju Melvin Pinnick, confirmed to THISDAY yesterday that money was not going to be the problem of Eagles in Russia.“We are glad that our efforts and relationship with FIFA has always paid off. We were also able to raise  $800,000 in addition which has given us at the NFF the exact money we need to prosecute the World Cup and the remaining pre-World Cup matches,” observed the NFF chief on telephone last night.Pinnick is particularly happy that there will be no repeat of the ugly scenario that degenerated into Super Eagles abandoning training in Brazil due to unpaid bonuses shortly before Nigeria played crucial second round game against France.“We are confident now that there will be no any form of distraction for the players in Russia. This will allow the players and officials concentrate on the business of the World Cup,” stressed Pinnick who also doubles as CAF executive committee member.The current NFF board led by Pinnick has in the last three years worked assiduously at eliminating all forms of disagreements and distractions with the players.All the 30 players selected in Gernot Rohr’s provincial 30-man list are expected to troop into the Uyo camp beginning today.After the friendly with DR Congo, the final list of 23 players is expected to be released on June 1 before taking on England’s Three Lions 24 hours later at the Wembley Stadium.However, according to Rohr, there will be two extra players on standby with the team in London in case of injury.The team will then proceed to the third and final phase of camping in Austria with the final 23 players to take on Czech Republic in the last friendly game on June 6 before flying to their World Cup base camp in Yessentuki in Russia.Eagles will open their World Cup campaign on June 16 against Croatia in Kaliningrad before playing debutants Iceland on June 22 at the Volgograd Arena. Their final group game is against two-time champions Argentina on June 26 in St. PetersburgShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more