flatastic

• The latest iA Institute

News release

Among state’s top subprime mortgage servicers accounts you to delinquencies to the subprime mortgages they protects flattened or rejected this summer, within the large measure due to its technical-improved loan mod system.

The latest looking for stands for a ray out-of guarantee on subprime drama and you can ways a functional way of remaining people within their house and you can protecting lenders’ and investors’ money.

Considering Ocwen Economic Corp. (NYSE: OCN), a prominent servicer out of subprime mortgage loans, delinquency cost in almost any classification (sixty, ninety and you will 90+ days) keeps possibly rejected or remained flat in the last 3 months. This is basically the earliest indication of balances within the Ocwen-maintained money given that the beginning of your own subprime crisis during the 2007. Ocwen’s profile talks about a life threatening portion of the subprime industry with their subsidiary, Ocwen Mortgage Maintenance, LLC, the company features up to 350,000 mortgage loans, regarding 85% from which is actually subprime. (more…)