KBRA: More smoke than fire in Ocwen’s restated earnings

KBRA: More smoke than fire in Ocwen’s restated earnings

Cautions that MSR transactions could see more regulatory scrutiny

Truth is, those recent housing numbers aren't so shiny

Housing starts? More like housing stops, amirite?

This man pretends to be a Realtor and no one can stop him

Canadian fines don’t seem to slow down Derek Johnson
W S

Lending

Freedom Mortgage found guilty of defrauding homeowner

Court rules lender violated New Jersey Consumer Fraud Act
Ben Lane
“These facts then lead to the conclusion that the loan was granted in order to engender fees for the lender and not for the benefit of the borrower,” Bergen County Superior Court Judge Gerald Escala wrote in his decision.
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3 facts crippling California's housing recovery

Can these problems be solved in next two years?
Brena Swanson
Before the Golden State can step into its positive forecast for the next two years, it has to overcome several housing hurdles impeding its recovery.
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Home Depot: Housing finance reform is crucial

Executives pay close attention to mortgage market
Brena Swanson
Although Home Depot reported strong second-quarter earnings, it does not mean the giant home improvement store has nothing to worry about.
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Closing rate for mortgage originations drops in July

Closure for 90-day applications falls below 60%
Mortgage originations showed an overall closing rate of 57.7% in July 2014, down from 60.7% in June 2014, according to a sample of 90-day loan applications conducted by Ellie Mae.
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Mortgage applications rise 1.4% even as government mortgages drop

Refinancings increase to 55% share of mortgage application activity
Trey Garrison
Mortgage applications increased 1.4% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending August 15, 2014.
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Millennials better at paying their mortgages

Mortgage delinquency rate falls nearly 20%
Brena Swanson
The youngest group of mortgage borrowers posted the lowest mortgage delinquency rate, falling to 2.34%, overcoming the impact of the Great Recession.
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The TILA-RESPA Combined Disclosure connection

Tim Anderson of DocMagic weighs in with Closing Call guest post
Tim Anderson

The primary issue is not only delivering the closing documents to the consumer three days ahead of closing (consummation), but now, with the delivery deadlines and tolerance requirements, the lender is on the hook to ensure even greater accuracy of the GFE/TIL at time of application.  


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Good news for the housing market?

Home Depot raises full-year forecast
Brena Swanson
Home Depot recorded strong second-quarter earnings on the same day the U.S. Census Bureau and the Department of Housing and Urban Development reported multifamily housing starts soaring.
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SEC subpoenas Ocwen over Altisource, HLSS associations

Joins NYDFS in questioning company’s relationship with its affiliates
Ben Lane
Ocwen’s close relationship with Altisource Residential, Altisource Asset Management Corp., Altisource Portfolio, and Home Loan Servicing Solutions has been under scrutiny since New York's Department of Financial Services first sent a letter to Ocwen’s general counsel about the dealings between the affiliated companies in February.
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3 reasons mortgage apps don't reflect housing strength

The growing disconnect between apps and sales
Brena Swanson
Mortgage applications continue to hover around the same level, while home sales keep rising. A new reports digs into why, citing three factors for the disconnect.
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