Ocwen Chairman Erbey resigns as company admits misconduct

Ocwen Chairman Erbey resigns as company admits misconduct

Company to pay $150 million to homeowners

Ocwen CEO unveils company’s new direction

Plans to exit agency servicing; increase mortgage originations

This Des Moines court case may change the Freddie, Fannie investor sweep

Judge will rule whether Continental Western Insurance has standing
W S

Lending

Morningstar: True cost of Ocwen settlement far exceeds $150 million

Settlement could halt any long-term growth
Ben Lane
If Ocwen Financial thought that its regulatory troubles were over now that it settled with the New York Department of Financial Services for $150 million, the beleaguered company has another thing coming. The increased regulatory scrutiny and loss of its chairman could cripple Ocwen's growth, according to Morningstar.
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Freddie Mac: Mixed housing news drives mortgage rates up slightly

Still comfortably below 4%
Ben Lane
Weaker than expected housing and economic data drove a slight uptick in mortgage rates in the last week. But on the bright side, mortgage rates are still near yearly lows.
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Mortgage applications tick up 0.9%

Refinancing share increases
Trey Garrison
Mortgage applications finally saw a trend reversal, ticking up slightly for the week ending Dec. 19 after several weeks of consistent declines.
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Texas Realtor celebrates the murder of two NYPD officers

Doubles down on claims the day after and refuses to apologize
Trey Garrison
A Realtor from Texas let the world know he was all good with the execution-style slaying of two New York police officers. Find out how the world is letting him know what they think.
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FHFA approves Federal Home Loan Bank merger

FHLB Des Moines, FHLB Seattle one step closer to merging
Ben Lane
The merger of the Federal Home Loan Bank of Des Moines and the Federal Home Loan Bank of Seattle is now one step closer to becoming a reality, as the Federal Housing Finance Agency has approved the merger. Next up is a vote by each bank's members.
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FHFA issues warning on “super priority” liens

Threatens legal action if GSE mortgages are superseded
Ben Lane
The FHFA has issued a warning and threatened litigation against homeowners, financial institutions and state authorities, citing its concern with super-priority liens created by either energy retrofit programs or homeowner association priority status.
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The truth about a housing "recovery" in 2015

Lynn Effinger looks into his crystal ball
Lynn Effinger
With a virtual plethora of articles appearing in 2014 throughout the “regular” media, the blogosphere, and various other venues regarding the strength or weakness in our economy, one could surmise that there is a clear trend. One expert says that, yes, there is a trend, but it is not a positive one.
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Mortgage Bankers Association adds 14 new members

MBA continues its growth
Ben Lane
See who joined the Mortgage Bankers Association in the month of November.
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Lack of millennial homebuyers drags on housing

Veros: Prices, credit reduce first-time homebuyers
Trey Garrison
Despite the easing of credit restrictions, millennial reticence is dragging down first-time homebuyer sales.
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Home-price growth will stabilize around 4% through 2015

Capital Economics: Lower LTV will offset any drags
Trey Garrison
Despite likely coming interest rate hikes and depressed energy prices, Capital Economics expects home-price growth to stabilize around 4% in 2015. Here's why.
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