Ex-NFL star sentenced to five years in prison for mortgage fraud

Ex-NFL star sentenced to five years in prison for mortgage fraud

Irving Fryar and his mother convicted of conspiring to steal $1.2M

Experian hacked: 15 million people’s credit data stolen in breach

Credit reporting agency becomes latest victim of data breach

Here's what today's job creation implosion means for housing and mortgage finance

Jobs crater, labor participation rate near 40-year low and zero wage growth


New Residential to repay $2.5B in mortgage servicer advances

S&P downgrades Ocwen, triggers repayment
Citing an “inadvertent” oversight in a previous downgrade of Ocwen Loan Servicing servicer rankings, Standard & Poor’s announced earlier this week that it was lowering its ranking of Ocwen as a residential mortgage master servicer from “above average” to “below average.” And that move triggered a massive payback from New Residential.
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$301 million Fannie Mae bulk servicing portfolio hits market

Mostly Midwest portfolio is 100% current
Buyers looking to get their hands on some Fannie Mae servicing now have that opportunity. Interactive Mortgage Advisors announced that it is acting as the exclusive broker for a $301 million Fannie Mae bulk residential mortgage servicing rights offering.
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From HW Magazine

Venture Solutions creates a pathway to paperless process

Multi-channel deployment meets consumers wherever they are
Venture will consult, help set realistic goals and provide solutions to improve the online and mobile experiences to drive eStatement adoption. The company also provides a full lifecycle program that capitalizes on personalized communications that educate, inform and provide easy ways for customers to drive paperless adoption via mobilized solutions.
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Ocwen cutting 10% of U.S. workforce

Cutbacks at Waterloo, Iowa facility part of cost-cutting initiative
As part of its previously announced cost-cutting initiative, Ocwen Financial announced Thursday that it intends to reduce the size of U.S. workforce by 10%. And while it was not an easy decision for the servicer to make, the CEO said it was necessary to ensure long-term success.
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Black Knight launches HOA super lien identification program

New solution identifies HOAs, detects liens and helps cure delinquencies
A new offering from Black Knight Financial Services helps protect mortgage servicers and investors from potential losses due to homeowners’ association super liens. Users can now identify properties subject to HOAs nationwide, detect liens on those properties and help cure delinquencies.
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CFPB turns microscope on mortgage industry practices

Latest complaint database snapshot details consumer issues with industry
After being relatively spared in the first two snapshot reports of the Consumer Financial Protection Bureau’s consumer complaint database, the mortgage industry is the focus of the third report, and the results aren’t terribly positive. So who's in the CFPB's crosshairs the most?
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Freddie Mac sells off $1.1 billion in Ocwen-serviced mortgages

Deeply delinquent non-performing loans sold to multiple buyers
Good news for the winners of Freddie Mac's latest sale. The enterprise announced Wednesday that it selected the winning bidders in the sale of more than $1 billion in non-performing loans that are currently being serviced by Ocwen Loan Servicing. And apparently one of the winning bidders is a frequent buyer of GSE non-performing loans.
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