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Scrooge McDuck
6547 Posts |
 Posted - 03/27/2008 : 6:45:17 PM
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anyone here know what investors, what organization, or who it was that was funding the loan Option One wrote? they all had investors; who was option one's?
it wasnt H&R block, i dont think. they just owned it. i know option one funded loans for plenty of others, like WMC, BNC i saw OO was the first payment coupon in the package and probably others.
so who gave the money to option one, to write the loans? |
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hherrm
1200 Posts |
Posted - 03/27/2008 : 6:58:27 PM
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| I had one come in today. Option One was still servicing the loan. I did not think that they actually serviced loans. |
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Scrooge McDuck
6547 Posts |
Posted - 03/27/2008 : 7:02:33 PM
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| they do service the loans. thats why the first payments for many places went to them. if it was subprime, and the company wasnt going to service it, there was a good chance that option one was going to be the one to collect the checks. |
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CoralSnake
9087 Posts |
Posted - 03/27/2008 : 7:04:57 PM
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They did service loans- seen it alot.
But I have know idea who funded them.
They were huge- It was most probably more than one fund. |
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Scrooge McDuck
6547 Posts |
Posted - 03/27/2008 : 7:13:15 PM
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quote:
Originally posted by CoralSnake
They did service loans- seen it alot.
But I have know idea who funded them.
They were huge- It was most probably more than one fund.
thats what i was thinking. i was hoping someone from OO that used to work there or something might have an idea and chime in. |
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NNMS
990 Posts |
Posted - 03/27/2008 : 7:19:29 PM
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| I just emailed our old Option One AE, I'll let you know if I hear from him. My husband was *thinking* Lehman, but is not positive on that. |
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mortgagemessiah
6549 Posts |
Posted - 03/27/2008 : 7:24:14 PM
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| I knew they serviced them but I figured they sold off the servicing. It will be interesting to see what happens. |
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CoralSnake
9087 Posts |
Posted - 03/27/2008 : 7:25:17 PM
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| On another note- who is servicing New Century loans these days? |
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Originate_This
188 Posts |
Posted - 03/27/2008 : 7:27:10 PM
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| I think a hedge fund called Carrington bought the New Century servicing rights. |
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ppulatie
1798 Posts |
Posted - 03/27/2008 : 8:00:45 PM
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| New Century also used a Countrywide warehouse line. |
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smoothlid
269 Posts |
Posted - 03/27/2008 : 9:07:31 PM
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OOMC definitely retained servicing on almost all loans, they were well known for great servicing portfolio.
HRBMC was retail arm of OOMC, put super prime (660+) thru countrywide, all else thru parent (OOMC).
Not sure who end investor(s) were for the subprime stuff. |
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Scrooge McDuck
6547 Posts |
Posted - 03/28/2008 : 03:46:51 AM
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good info. Thank you.
anyone else? |
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MisterVA
4527 Posts |
Posted - 03/28/2008 : 07:22:25 AM
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| I have seen WF in foreclosure actions in the land records. |
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