Senate approves short sale tax break

Senate approves short sale tax break

Allows tax relief on 2014 short sales

Senate fails to pass Terrorism Risk Insurance Act

Housing groups "extremely disappointed" in "alarming failure"

Another regulator investigates Ocwen Financial

Ocwen’s terrible, horrible, no good, very bad year just got worse
W S

Servicing

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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Here’s one huge drag on troubled homeowners

1 in 5 paying double the average interest rate
Trey Garrison
Not everyone is paying historically low rates of interest, and here's what can be done about it.
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$2.7 billion Fannie, Freddie MSR portfolio for sale

MountainView Servicing Group oversees the transaction
Brena Swanson
Another mortgage-servicing rights portfolio has hit the market. This time MountainView Servicing Group is advising in the sale of a $2.7 billion Fannie Mae and Freddie Mac mortgage servicing rights portfolio.
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RealtyTrac reports foreclosure activity fell 9% in November

Trouble ahead: Foreclosure starts increase for first time since mid-2012
Trey Garrison
The good news is foreclosure activity dropped in November. The bad news? Foreclosure starts are up for the first time in two-and-a-half years. Here's how it breaks out.
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Florida borrowers get more than $16 million back

Ocwen mortgage settlement checks in the mail
Brena Swanson
The Florida Attorney General's office sent out more than 14,000 checks in the mail to eligible consumers who lost their homes to foreclosure between 2009 and 2012.
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