Ocwen Chairman Erbey resigns as company admits misconduct

Ocwen Chairman Erbey resigns as company admits misconduct

Company to pay $150 million to homeowners

Looking back, the housing industry is totally Scrooged

Here's the HousingWire/Star Wars Christmas 2014 special

FHA loans could face "tidal wave of defaults"

All indices hit series high
W S

Servicing

Ocwen Chairman Erbey resigns as company admits misconduct

Company to pay $150 million to homeowners
Trey Garrison
Today the chickens have come home to roost for Ocwen Financial. Executive Chairman William Erbey is resigning, and the company will pay $150 million to homeowners. Here's what it means for investors and the industry.
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OCC: Mortgage performance improves in third quarter

Delinquencies, foreclosures decline on first-lien mortgages
Trey Garrison
Mortgage activity may be slowing overall, but first-lien mortgages are continuing to show improvement. Here's how it broke out in the third quarter.
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Ocwen accused of stalling short sales

NYDFS and CFPB investigate
Brena Swanson
Ocwen just can't get out from under the spotlight of housing regulators. This time the servicer is being accused over whether it improperly stalled short sales by borrowers who owe more than their homes are worth.
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Political theater: Community groups giving HUD “Grinch of the Year” award

Advocates say distressed asset sales drive foreclosures
Trey Garrison
Get ready for a little coal in the stocking for the FHA — community groups and housing advocates are protesting the Distressed Asset Stabilization Program. Here's what will happen Thursday.
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HOPE NOW: 39,000 homeowners saved from foreclosure

Continues steady pace of mortgage solutions
Brena Swanson
Servicers maintained a steady pace of loan modification for homeowners in October, with the number of solutions outpacing foreclosure sales.
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Zillow: Number of underwater homeowners sliced in half

8.7 million homeowners still in negative equity
Brena Swanson
More Americans are coming out of negative equity, with the number tumbling by more than 40% since 2012. However, this doesn’t guarantee a rosy forecast for underwater homeowners.
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Another regulator investigates Ocwen Financial

Ocwen’s terrible, horrible, no good, very bad year just got worse
Trey Garrison
Now the National Mortgage Settlement office says that it can't rely on what it's getting from Ocwen and will bring in an independent accounting firm. Here's why bad just got worse for the nonbank.
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The biggest obstacle to a mortgage market recovery that nobody is talking about

The high cost of servicing delinquent loans
Taz George and Laurie Goodman
These timelines are often difficult if not impossible to meet while meeting consumer protection rules put in place by states and the Consumer Financial Protection Bureau (CFPB).
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Equifax: Seriously delinquent mortgages hit new low

More than 29.8% year-over-year decrease
Brena Swanson
The latest housing data from Equifax showed improving credit numbers across the board, particularly in delinquent mortgages and home equity lines of credit.
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Ocwen buying portfolio of delinquent Ginnie Mae mortgages

Treasury looking at impact of backdating letters allegation
Trey Garrison
If Ocwen is experiencing a tough time, they're not doing it lying down. The nonbank is moving now to purchase Ginnie Mae delinquencies even as the Treasury Department is reviewing the backdating letters scandal.
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