Mortgage technology will be ready to address TRID

Mortgage technology will be ready to address TRID

Won’t magically make challenges and cost of compliance disappear

Mortgage industry embraces new CFPB mortgage toolkit

Know Before You Owe gets qualified stamp of approval

Did little-known Arizona law start the appraiser death clock?

Gov. Ducey inadvertently hands a victory to AMCs
W S

Servicing

Altisource Residential moves to pull more mortgage servicing from Ocwen

Company discusses 2015 plans in call with investors
Ben Lane
Citing a desire to decrease its reliance on a single servicer and diversify its risk, Altisource Residential revealed plans to significantly decrease its commitment to Ocwen Financial in 2015. What does it mean for the future of Ocwen?
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Altisource Residential announces new management agreement with AAMC

Will result in “substantial management fee savings”
Ben Lane
Altisource Residential and Altisource Asset Management Corporation have a complicated relationship and that complicated relationship isn't going anywhere, anytime soon, thanks to a modified asset management agreement, which the companies say will result in "substantial management fee savings."
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Long foreclosure processes give borrowers free home

Cases rest on the state’s statute of limitations
Brena Swanson
There are still tens of thousands of homeowners who have missed more than five years of mortgage payments. And according to an interesting legal quirk, they might be able to keep their homes for free now.
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Home eviction leads to grisly, tragic discovery

Police discover two children’s bodies in freezer
Trey Garrison
Home evictions can uncover any number of problems, but an eviction in Detroit led to a very disturbing crime scene and the arrest of a mother.
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Freddie Mac completes largest sale ever of seriously delinquent loans

GCAT Management Services wins all three pools
Brena Swanson
Shortly after releasing the new requirements for the sales of non-performing loans, Freddie Mac announced its biggest sale yet of seriously delinquent loans from its portfolio. This one is nearly the same amount as the first two pilot sales combined.
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Ocwen offering indemnification to company directors and executive officers

Is more legal trouble imminent?
Ben Lane
By its own admission, Ocwen Financial is facing 21 pending investigations in 15 different states, is currently facing delisting by the New York Stock Exchange for delaying the release of its annual report, and has run afoul of investors and homeowners alike. Is that why it began offering indemnification to its directors and executive officers?
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Wells Fargo cutting 1,000 mortgage servicing jobs

Will shutter Milwaukee office by July
Trey Garrison
The bad news? Wells Fargo is cutting about 1,000 mortgage servicing jobs. But the good news is that the job cuts mean there are fewer legacy and problem mortgages to service.
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Nationstar to fund MSR purchases with stock offering

Announces plans to sell 17.5 million shares of common stock
Ben Lane
In the last month, Nationstar Mortgage reached two separate agreements with Ocwen Financial to purchase nearly $35 billion worth of mortgage servicing rights. Nationstar is planning to fund those purchases by executing a public offering of common stock.
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Ocwen faces delisting from New York Stock Exchange

Is the HLSS situation the iceberg that sinks Ocwen?
Ben Lane
The calendar may say that it’s officially Spring, but Ocwen Financial’s winter of discontent is nowhere close to being over. Now, the bank is facing delisting from the New York Stock Exchange because of its continued delays in filing its 2014 annual report.
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Ocwen speeds exodus from mortgage servicing with latest, massive MSR sale

Nationstar buys in bulk, expects more deals soon
Ben Lane
In what’s becoming a weekly occurrence, Ocwen Financial announced Tuesday that it will sell off another massive agency mortgage servicing rights portfolio. The buyer this time? Nationstar, which is expecting more, similar deals to come.
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