Ocwen bites back, says investors just want foreclosures

Ocwen
By Ryan Bolger
23 Mar 2015

Ocwen Financial has publicly challenged RMBS investors' arguments that collateral should be transferred to other servicers that might be more likely to foreclose on borrowers.

Liquidations of distressed home loans often provide higher payments to senior RMBS tranches than loan modifications, so foreclosure would be good news for investors, market participants told GlobalCapital.

In a 30-page letter to trustees dated March 22, Ocwen alleged that certain investors, specifically BlackRock Financial Management, PIMCO, Kore ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial