Monday Morning Cup of Coffee: Ocwen settles "frustrating skirmish" with California

Zillow plans event to “hack” housing

Offers $10,000 prize for creative solutions to jumpstart market

CFPB goes after Wells Fargo, JPMorgan for mortgage kickback scheme

Mega banks will pay $35.7 million total
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Lending

Zillow plans event to “hack” housing

Offers $10,000 prize for creative solutions to jumpstart market
Ben Lane
Zillow is planning a weekend “hackathon” where developers will be challenged to invent the most innovative way to make it easier for buyers to find an affordable home. The prize for the most creative idea? $10,000.
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Rarity: BofA celebrates new branch opening in Denver

Opens new location in new market
Jacob Gaffney
News comes as bank continues to ditch hundreds of branches in many other markets. The bank is also experimenting with simpler "express" branches, those that do not employ tellers.
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Greystone adds Raphael Inzlicht as VP of development

Tasked with leading new construction projects in NYC
Ben Lane
Greystone, a New York-based real estate development and financial group, added Raphael Inzlicht as the company’s new vice president of development. In this role, Inzlicht will lead new ground-up construction projects in New York’s five boroughs.
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This housing market will never be saved

Six years later, still struggling
Brena Swanson
According to one bold housing columnist, housing will never spring back to its pre-recession levels. Despite all the government’s best attempts to spur activity again, these headwinds will remain.
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Freddie Mac: Hybrid ARMs are “hot”

Annual Adjustable-Rate Mortgage Survey shows impact of low interest rates
Ben Lane
Hybrid adjustable-rate mortgages continue to be the most popular ARM loan product offered by lenders and chosen by borrowers, according to the 31st Annual Adjustable-Rate Mortgage Survey of prime loan offerings from Freddie Mac.
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4 reasons borrowers need to refinance now

Is it time for a refi boom?
Brena Swanson
Mortgage rates are dropping to record lows once again, creating a similar push to refinance as that seen two years ago. And despite the huge portion of people that chose to refinance at that time, there are still a handful of reasons for why now is still a good, or necessary, time to refinance.
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Texas mortgage market will still shine in 2015

Oil bust? Give me a break
Marcus McCue
Despite everything going on in the oil industry, the Texas housing market is still poised to shine in 2015. Texas-based Guardian Mortgage explained that 2015 looks to be both bigger and better than last year; itself a pretty decent year.
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Existing-home sales recover after last month’s tumble

Increases back above an annual pace of 5 million sales
Brena Swanson
After last month's huge drop, existing-home sales managed to recover and pick back up 2.4%. While this increase is good, there are still several rough patches mentioned in the National Association of Realtors' report.
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Zillow: Will owners of low-end homes start moving up?

Homeowners finally in a position to sell
Brena Swanson
Homeowners at the bottom of the housing tier emerged from 2014 in a stronger position than in previous years, potentially opening the door for the whole market to start shifting up in housing.
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Maryland woman sent to prison for stealing from open houses

Searched for expensive houses and posed as buyer
Ben Lane
According to local authorities, Sally Spaisman, 58, would search the Internet for expensive homes that were on the market, show up at the open houses pretending to be a buyer and use her free reign of the house to steal expensive jewelry from the owners.
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