Non-Agency RMBS - January 2015 Remittance - Day #1
Today we report facts rather than reporting the news and speculating on possible outcomes. Our approach has always been to deliver you data so you can make your own informed decisions. We will leave the news reporting to Bloomberg and Reuters.
On Sunday evening, we distributed a special Ocwen servicer mapping. We believe it is important to know what deals Ocwen is servicing along with the Master Servicer and Trustee for each deal. In today’s commentary, we report on rep and warranty repurchases, extreme losses passed through to investors, high loss severities (especially on the Countrywide RMBS Settlement deals), a recent servicing transfer from BAC to SLS, and an interesting look at Nationstar’s advancing policies.
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