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Centuries-Old Mortgage Market Ponders Age of Negative Rates

The nation’s finance industry must brace for longer periods of rates even further below zero, Soeren Holm, chief financial officer at Copenhagen-based Nykredit Realkredit A/S, said. Denmark’s mortgage banks are grappling with a situation for which two centuries of operation offer no guidance: a central bank deposit rate of minus 0.75 percent that has sent loan rates plunging. It’s also a …

Ocwen refutes allegations of poor mortgage servicing practices

Ocwen Financial Corp refuted allegations of poor mortgage-servicing practices and said on Monday that it had sent a letter to trustees of 119 mortgage pools, arguing that it should not be removed as a servicer. Investors including BlackRock Inc and Metlife Inc sent a notice to Ocwen and the trustees in January, alleging improper loan modification practices, wrongfully recouped advances, and a …