RMBS holders take another swing at Ocwen

By Will Caiger-Smith
26 Jan 2015

Investors in RMBS backed by mortgages serviced by troubled special servicer Ocwen Financial made allegations of their own last week, as investment firm BlueMountain claimed that some Ocwen-serviced notes had defaulted.

Investors accounting for 25% of the voting interest in 119 RMBS backed by mortgages with an original balance of $82bn issued a notice of non-performance to trustees BNY Mellon, Citibank, Deutsche Bank, HSBS, US Bank and Wells Fargo, law firm Gibbs & Bruns announced on Friday.

The investors alleged ...

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