Brad Finkelstein is the originations editor of National Mortgage News. Finkelstein has been with NMN since May 1990. Prior to that he was the associate editor of the Airport Press in Jamaica, N.Y., and a reporter for This Week Publications on Long Island. He is a past president of the New York Financial Writers Association.
Ocwen Financial Corp.'s acquisition of PHH Corp. will help the nonbank servicer rebuild scale that's been diminished by years of regulatory restrictions and the decline in distressed mortgage volume brought about by improvements in the overall housing market.
Tax reform caused Fannie Mae to burn through retained earnings that had been approved just two months ago and to post a fourth-quarter loss. CEO Timothy Mayopoulos argued it was a one-time event that overshadowed strong fundamentals.