Hints and tips:
...Yes, the numbers are bigger, but the shock, while not a V is shorter and sharper than that crash, and the pre-crisis fiscal situation was strong....
...In its motion, BlackRock said: “The suit is really a misconceived attempt at reputation recovery by William Erbey… [who is] the disgraced founder and former chairman of Ocwen Financial Corporation…Erbey...
...Last February, for example, it began a public correspondence with Ocwen Financial, the non-bank mortgage servicing company which was rapidly picking up assets from the banks, detailing concerns over its...
...William R Rhodes is President & CEO, William R Rhodes Global Advisors, LLC and author of “Banker to the World: Leadership Lessons from the Front Lines of Global Finance.” Back to beyondbrics...
...The specialised servicers have been buying hundreds of billions of dollars worth of mortgage servicing rights, which give them license to collect payments on US home loans in exchange for a sliver of the...
...Home Loan Servicing Solutions is based, and Luxembourg, where Altisource is incorporated....
...and the US Virgin Islands, where Ocwen’s chairman, William Erbey, has his home....
...plans to buy $39bn of mortgage-servicing rights from Wells Fargo....
...The company sold billions of dollars worth of home loans and mortgage servicing rights to buyers including Ocwen Financial and Berkshire Hathaway....
...Walter, Nationstar and Ocwen Financial snapped up MSRs from their much larger bank competitors to achieve their improved industry ranking....
...It is the latest deal for Ocwen this year following the acquisition of servicing companies including Litton Loan Servicing from Goldman Sachs and Saxon Mortgage Servicers from Morgan Stanley....
...The successful auction follows the sale of ResCap’s mortgage servicing business to Ocwen Financial for $3bn on Wednesday after it won a bidding war with Nationstar Mortgage....
...Bidders for ResCap’s mortgage servicing business are expected to submit their offers at a bankruptcy court auction on Tuesday....
...Such loans require intensive and costly servicing....
...“Our team will be able to do default loans, residential, commercial, can resuscitate failed properties, etc….very few others will have this reach,” he said. “The market is huge.”...
...Low debt-servicing costs can accommodate some growth in household consumption, and business investment should return to modest growth by the end of 2010, however....
...Blackstone is trying to put a good face on all this: by announcing the closure to new investors of its $21.7bn fund, V – the largest ever – and by claiming the market reversal plays to its strengths by reducing...
...One of its lawyers documented the loans Phillip Bennett, then chief executive, used to disguise the $430m debt he owed to the brokerage group....
International Edition