As of June 30, 2013, Ocwen serviced a portfolio of approximately 768,439 non-prime loans
with an aggregate unpaid principal balance of $115 billion and a portfolio of special servicing assets consisting of 271,118 loans with an aggregate unpaid principal balance of $58 billion.
Global Banking News-19 May 2010-Santander to offer non-prime loans
for customers of Chrysler(C)2010 ENPublishing - http://www.
Most of the non-prime loans
were packaged into bonds that received triple-A ratings from the rating agencies.
Additionally, Florida contains a disproportionate amount of non-prime loans
, with 85% of loans being categorized as Alt-A or Subprime.
Apart from these, Ocwen bought certain mortgage-servicing rights (MSRs) related to non-prime loans
from JPMorgan Chase Bank, N.
MM: To what extent have these non-prime loans
become more common in recent years?
We normally see one in twenty of our survey respondents specialized in originating non-prime loans
Franklin originated non-prime loans
through its wholly-owned subsidiary, Tribeca Lending Corp.
National City's liquidating portfolios include non-prime loans
that remain following the sale of First Franklin, broker-originated National Home Equity portfolios, the construction loans formerly originated by National City Mortgage, mortgages related to other non-continuing origination channels, and indirect automotive and recreation finance assets.
It incorporates newly tailored model segments to adapt to the unique portfolio characteristics of prime, Alt-A and non-prime loans
and maintains market leading detection rates and low false positives on all portfolio types.
2 million of non-prime loans
to Option One and the remaining prime production to a third party.
Our many years of experience in the real estate settlement services industry has led to an understanding that the processes and products needed to underwrite non-prime loans
are unique," said Richard Hogendorf, group vice president of TransUnion Real Estate Service's Consumer Finance division.