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Stock Market & Financial Investment News

News Breaks
July 1, 2014
10:14 EDTWAC, FMCC, NSM, FNMA, OCNOIG recommends FHFA actions on nonbank mortgage servicers
The Office of Inspector General issued a report on actions the Federal Housing Finance Agency can take to manage risks from nonbank mortgage servicers such as Ocwen Financial (OCN), Nationstar (NSM) and Walter Investment (WC). The OIG concluded that "while FHFA and the Enterprises have responded well to specific problems at nonbank special servicers, the Agency has not established a risk management process or overall oversight framework to handle some general risks posed by nonbank special servicers." It added, the nonbank special servicers do not have the same capital requirements as a bank, which means they are more susceptible to economic downturns. Such downturns could substantially increase nonperforming loans that require servicer loss mitigation while at the same time impact the ability of the servicer to perform." Reference Link
News For OCN;NSM;WAC;FNMA;FMCC From The Last 14 Days
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February 11, 2016
07:01 EDTNSMNationstar begins "Dutch auction" self-tender offer for up to $100M in stock
Nationstar is commencing a modified "Dutch auction" self-tender offer to repurchase up to $100M in cash of its common stock at a price per share within the range of $8.20 to $9.40. The NYSE closing price of Nationstar's common stock on February 10 was $8.61 per share. The tender offer will expire on March 11 at 5:00 p.m., NYC time, unless the tender offer is extended or withdrawn by the company. This tender offer is being made pursuant to an upsizing of the original repurchase authorization from $150M to an aggregate of $250M.

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