Report on Mortgage Specialty Service Providers Triggers Stock Rally
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Shares of Ocwen Financial Corp. (NYSE: OCN) and Nationstar Mortgage (NYSE: NSM) are moving higher today. Today's move appears to be linked to a report yesterday by CNBC's Diana Olick. The report highlighted specialty service retailers in the mortgage industry and describes the process where banks farm out servicing to specialty servicers with more experience handling troubled loans.
The trend is tied to the increasing complexity of regulation in the mortgage industry and proposed regulator changes that would require servicers to consider applications for help from troubled borrowers within 30 days of receiving them.
The trend is tied to the increasing complexity of regulation in the mortgage industry and proposed regulator changes that would require servicers to consider applications for help from troubled borrowers within 30 days of receiving them.
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