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...She is currently studying te reo (Māori language), and she’s also been experimenting with native rakau (plants), distilling them at home....
...Ocwen Financial and QuisLex US mortgage provider Ocwen and law company QuisLex have developed a process to analyse long and complex contracts, including mortgage-backed securitisations....
...Then, in January 2015, an “event of default” notice was sent to more than 100 MBS trusts which Ocwen was servicing, alleging improper behaviour and bringing the company to its knees....
...Ocwen said then it was aiming to sell the bonds to fixed income investors including real estate investment trusts (Reits), the tax-friendly investment vehicles....
...Shares in Silver Bay Realty Trust and American Residential Properties are trading below their initial public offering prices, while American Homes 4 Rent has done slightly better....
...The new bonds are known as “single-family rental” or “Reo-to-rental” securitisations. “Reo” is an industry term for foreclosed houses that have been repossessed by banks....
...(Financial Times) Investors including Pimco and BlackRock are considering legal action against Ocwen Financial, in a sign of unease at the growing clout of non-bank mortgage-servicing companies which are...
...They include Ellington Management, Fundamental REO, whose fund received a large investment from Goldman Sachs and Barry Sternlicht’s Starwood Property Trust, analysts have said....
...Others looking at a listing include units of investment fund Ellington Management; Fundamental REO, whose fund received a large investment from Goldman Sachs; Waypoint Homes Realty Trust; American Homes...
...The loan has been in REO since July 2007, and is still in the MBS pool. You can read the full MA Supreme Court decision over here....
...Now, a big part of that increase, $3.38bn, is down to the bankruptcy of real estate investment trust General Growth Property....
...While REO expenses jumped, assets declined 2% at the median bank (composite up 4% however)....
...They disappear in the data — compilations of mortgage data often don’t follow the original starting point of homeowners, just of mortgages themselves (which is why I trust the Boston Fed papers, and few...
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