This is what justifies Texas economic pride

This is what justifies Texas economic pride

Happy Independence Day, Texas

Morgan Stanley expects mortgage bond lawsuit from New York AG

Subprime securitizations at the center of lawsuit

Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news
W S

Lending

CoreLogic: Home prices gain nearly 6%

Projects home prices to rise 4.9% in January 2016
Trey Garrison
CoreLogic's home price index says that January saw home price increases of 5.7% from last year. Here's how it breaks down.
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Realtor's client murdered during home showing

Gunman walks into home during showing
Brena Swanson
A gunman walked into a home and opened fire while a real estate agent was showing a home to a married couple, killing the husband. This tragic event is not the first attack on real estate agents but continues to remind agents that they must take care and precautions to protect themselves.
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Altisource Portfolio Solutions reports 2014 net income of $134.5 million

Ocwen’s troubles force cutbacks, including layoffs
Ben Lane
Despite its business taking a hit due to Ocwen Financial’s regulatory troubles, Altisource Portfolio Solutions still reported a 3% increase in net income in 2014, with the company’s income rising from $129.97 million in 2013 to $134.49 million in 2014.
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This is what justifies Texas economic pride

Happy Independence Day, Texas
Brena Swanson
The Lone Star state celebrated its 179th birthday Monday. And looking at the latest housing report from the Texas Association of Realtors, Texas has plenty of reason to brag.
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Kofax acquires Aia for $19.5 million

Dutch company provides customer communications management software
Ben Lane
Kofax announced the acquisition of Aia Holding BV, a customer communications management company based in The Netherlands, for $19.5 million in cash. Aia’s customer communications management software will be integrated into Kofax’s TotalAgility offering, and will continue to be offered on a stand-alone basis as well.
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BBVA Compass launches zero-percent down mortgage program

HOME Program designed to boost homeownership
Ben Lane
For some prospective borrowers, saving up 3% for a down payment on a home is still a hurdle they can’t quite clear. However, a new program from BBVA Compass will allow borrowers to put down even less for a down payment.
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FHFA revamps nonperforming mortgage servicing rules for Fannie and Freddie

Reduces taxpayer risks
Brena Swanson
Freddie Mac sold severely delinquent loans through two transactions in the past six months, totaling approximately $1 billion in unpaid principal balance. From this pilot program, the Federal Housing Finance Agency formed these enhanced requirements for sales of nonperforming loans by Freddie Mac and Fannie Mae.
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Patrick Harker appointed next Philadelphia Fed president, CEO

11th president of the bank
Brena Swanson
The board of directors of the Federal Reserve Bank of Philadelphia appointed Patrick Harker as its 11th president and CEO of the Philadelphia Fed, succeeding Charles Plosser, who retired effective March 1, 2015.
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From HW Magazine

Fannie Mae's Collateral Underwriter gets a mixed reaction

Appraisers and AMCs weigh in
Fannie Mae released its Collateral Underwriter program to lenders in January, and the industry reaction has been varied and intense.
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From HW Magazine

Big banks, big returns?

Some of the nation's largest financial institutions offer better deals at low risk
The real no-brainer, however, is to look at how the bank performed in the last downturn. Invest in one that not only didn’t need a bailout but one that didn’t take major risks for the sake of short-term versus long-term gains.
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