WATCH: Famous televangelist gives terrible reverse mortgage advice

Fannie Mae: Collateral Underwriter not disrupting appraisals

Appraisers need to see it in action

FHFA hearing: GOP fear housing policy headed for Crash 2.0

Democrats say affordable housing, more lower-down policies needed
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Investments

S&P reportedly close massive mortgage-bond rating settlement

WSJ: Department of Justice may get billions
Ben Lane
Standard & Poor’s is reportedly closing in on a $1.37 billion settlement with the U.S. Department of Justice and more than a dozen states over claims that S&P knowingly mislead investors by issuing trumped up ratings for pre-crisis residential mortgage-backed securities.
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Moody’s: Ocwen’s California settlement won’t hurt RMBS investors

But it’s not all sunshine and roses either
Ben Lane
For investors in RMBS that contain Ocwen-serviced loans, the impact of the California settlement will be felt, but nowhere nearly as deeply as if Ocwen’s punishment was more severe. But that doesn't mean that the impact of the settlement is minimal either.
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Arch MI launches new mortgage insurance company

Given financial strength rating of ‘A3’
Brena Swanson
Arch MI announced it is opening a new mortgage insurance company right as the market starts to increase focus in that area due to new regulations. The new company, AMG, is a mortgage insurance company specifically created for mortgage loans that originators intend to retain in their portfolios or include in private securitizations and is not subject to GSE requirements.
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FHFA hearing: GOP fear housing policy headed for Crash 2.0

Democrats say affordable housing, more lower-down policies needed
Trey Garrison
Is the housing policy being charted by the Obama Administration one that will expand housing opportunities or steer us into dangerous waters? Rep. Waters applauds the latest Fannie, Freddie initiatives. While Rep. Hensarling indicates it is "dumb regulation."
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Redfin: January home prices up, demand at record level

Rock-bottom interest rates, larger inventory get 2015 off to busy start
Trey Garrison
Growing inventory, growing demand and growing interest from first-time buyers are three reasons why Redfin is forecasting a strong January and a strong 2015. Here’s how it breaks down.
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BlackRock discloses ownership stake in Altisource

Mortgage bond investor also reportedly threatening to sue Ocwen
Ben Lane
A Monday filing with the Securities and Exchange Commission shows that BlackRock is more than an interested party in the mortgage-backed securities whose loans are serviced by Ocwen and its affiliates. BlackRock also owns a substantial stake in Altisource Residential.
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Ocwen: Mortgage bond investors mislead public, push foreclosures

Fires back at “baseless, groundless” charges of mortgage payment negligence
Ben Lane
Ocwen fired back at claims of mortgage payment negligence, saying that the mortgage bond investors that accused it of failing in its duties as servicer have ulterior motives. “Your letter obscures the ultimate objective of your investor clients: to stop servicers from modifying loans and force them to foreclose on and evict as many struggling homeowners as quickly as possible,” Ocwen said in response.
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Monday Morning Cup of Coffee: Ocwen settles "frustrating skirmish" with California

But that's just over file access, not file content
Trey Garrison
Ocwen ended its disastrous week on Friday by settling with the state of California for $2.5 million — but that's just to ensure the state gets the information it asked for. Any violations that turn up once it has the information could be a whole other ball of wax.
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Ocwen sued by investors for mortgage payment negligence

Preparing to sue embattled nonbank
Ben Lane
Some of the country’s biggest mortgage bond investors, reportedly including BlackRock, MetLife, and Pimco, are preparing to sue Ocwen, saying that the beleaguered nonbank failed to properly collect payments on $82 billion of home loans.
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Hedge fund claims Ocwen breached bond covenants

Blue Mountain Capital reveals short position
Ben Lane
Hedge fund BlueMountain Capital Management sent notices of default to embattled nonbank Ocwen Financial and its affiliated company, Home Loan Servicing Solutions on Friday, saying that Ocwen’s regulatory troubles have caused an “irrefutable” default on notes the hedge fund owns.
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