Market shift: HSBC offloads huge REO portfolio to Altisource

How to get a mortgage right now, even with bad credit

HUD, FHA programs abound for those hit by the recession

America’s housing not ready for ever-expanding over-50 population

Harvard/AARP Study: Housing lacks accessibility for boomers
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Lending

Buckley Madole adds Stephen Hicklin as senior litigation counsel

Joins from Realty in Motion
Ben Lane
Hicklin brings more than 25 years of legal experience to Buckley Madole, with a focus on mortgage banking issues. Prior to his time at Realty in Motion, Hicklin served as senior counsel at Wright, Finlay & Zak.
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Dick Bove: "Mortgage crisis by winter"

Who will fill in the financial vacuum?
Brena Swanson
The end of 2014 does not look good, according to banking analyst Dick Bove. "A toxic brew is bubbling in the housing market that will lead to a mortgage crisis by winter," Bove cautioned.
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How to get a mortgage right now, even with bad credit

HUD, FHA programs abound for those hit by the recession
Trey Garrison
Let’s be honest, there’s a better than even chance that the average American has a FICO score that is, how to put it nicely, suboptimal. That doesn't mean they can't get a mortgage.
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Home Depot may be victim of ginormous credit card data breach

Many times larger than Target?
Ben Lane
The report states that a massive batch of stolen credit and debit cards went on sale in the “cybercrime underground” on Tuesday morning and that multiple banks are reporting that they are seeing evidence that the stolen credit data may have come from Home Depot stores.
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MERS wins again; this time in Pennsylvania

Superior Court upholds ruling on MERS’ authority to assign mortgage
Ben Lane
A Superior Court ruling in Pennsylvania saw another legal victory for MERSCORP in a wrongful foreclosure lawsuit. The mortgagor, Matthew Gibson, had sued Bank of America, claiming that the bank did not hold the note securing his mortgage and therefore had no rights to foreclose. Gibson also claimed that MERS did not have the authority to assign the mortgage.
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Market shift: HSBC offloads huge REO portfolio to Altisource

Lays off most of REO staff
Brena Swanson
In the latest addition to Altisource Portfolio Solutions, the company is acquiring the servicing rights to HSBC's REO department. The decision is already drawing fire for its cloak-and-dagger execution.
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Kofax announces acquisition of German tech firm

Company to integrate electronic signature software
Ben Lane
Kofax said it anticipates the Softpro integration will help to increase the speed and simplify the signature capture process, therefore enabling organizations to offer a fully digital, streamlined and secure experience with confidence.
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SEC adopts tighter securitization, ratings agency rules

Makes banks more transparent
Brena Swanson
The U.S. Securities and Exchange Commission adopted tighter rules for asset-backed securities and credit rating agencies in order to better protect investors, finally tackling two issues at the core of the financial crisis after years of delays.
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Countrywide’s Mozilo speaks: “We didn’t do anything wrong”

Former CEO fights back against coming lawsuit
Brena Swanson
Six years after the financial crisis and the government is still seeking justice for the financial crisis, targeting Countrywide Financial co-founder Angelo Mozilo. But to Mozilo, he did nothing wrong.
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2.5 million borrowers face imminent payment shock

Resets to happen over next few years
Brena Swanson
Tough forecast ahead for HELOC borrowers: Over the next three years, borrowers using home equity lines of credit are predicted to have a severe payment shock impacting their monthly budget.
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