BofA reaches $16.65B settlement over "toxic waste" mortgages

BofA reaches $16.65B settlement over "toxic waste" mortgages

Loans date back to Countrywide and Merrill Lynch

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?
W S

Lending

It's officially unaffordable to rent in almost all major cities

Zillow study outlines renting's deep impact on buying
Brena Swanson

"But the health of the for-sale market is directly tied to the rental market, where affordability is really suffering," said Zillow Chief Economist Stan Humphries.


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Real Living Lifestyles joins RealtyTrac’s broker network

Becomes network’s exclusive partner in San Diego County
Ben Lane
As a member of the RealtyTrac Network, Real Living Lifestyles will have the ability to integrate its broker-branded listings into the realtytrac.com website. “The network also offers all of its members high-profile, homepage branding as well as incorporating their insight into the real estate news cycle,” RealtyTrac said.
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Integrated Mortgage Solutions appoints Ed Ford SVP of national sales

Industry veteran brings “wealth of experience” to growing company
Ben Lane
"Ed’s wealth of experience and industry knowledge has already made him a key addition to the IMS family," Cheryl Lang, IMS’ president and CEO, said. "We view his appointment as a sign of our commitment to being the leading company in our industry."
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Realtor.com: July boasts the healthiest end to spring buying season in 3 years

Move finds silver linings in housing gray skies
Trey Garrison
Realtor.com is touting data from July showing that, by its metrics, July shows the best price appreciation and inventory increases hit during the peak spring buying season in three years.
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Bank of America reportedly reaches $17 billion RMBS settlement

Settlement would be largest yet
Ben Lane
If true, the $17 billion settlement would exceed the previous high of $13 billion paid by JPMorgan Chase in November to settle similar claims. As of press time, Bank of America did not have a comment on the rumors.
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Fed minutes: Tapering to end soon?

Cuts another $10 billion
Brena Swanson

"A range of labor market indicators suggests that there remains significant underutilization of labor resources. Household spending appears to be rising moderately and business fixed investment is advancing, while the recovery in the housing sector remains slow," the minutes continued.


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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%
Trey Garrison
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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