Things at Ocwen just went from bad to much, much worse

Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news

Pending home sales surge to highest level in 18 months

Buyer demand boosts sales

Foreclosure: The Movie… (finally!) coming to a screen near you

In new film, neighborhood of foreclosed homes drives man insane
W S

Investments

Monday Morning Cup of Coffee: Ginnie Mae haunted by Taylor, Bean & Whitaker

REITs focus on MBS sputter; Private mortgage bond market looks strong
Trey Garrison
Ginnie Mae is in trouble, but not because of its core mortgage business. Also, signs that the housing and mortgage finance space may be slowing aren’t troubling non-agency MBS analysts, while Credit Suisse is battening down the hatches. Here’s the scoop.
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From HW Magazine

Big banks, big returns?

Some of the nation's largest financial institutions offer better deals at low risk

The real no-brainer, however, is to look at how the bank performed in the last downturn. Invest in one that not only didn’t need a bailout but one that didn’t take major risks for the sake of short-term versus long-term gains.


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From HW Magazine

How to rise above an industry shift

Lenders only need to take a small step toward evolving for the new marketplace
Mark McElroy

We’re only months away from two new forms that will radically change processes and liability in this industry. Any day now, a new generation of homebuyers will start knocking on digital doors of opportunity that will expose every limitation of current business operations.  And with all of the technology advances of our time, all we end up with is just a more complicated, expensive version of the “way things have always been done”.


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BNY Mellon and Amherst form new real estate credit company

Amherst Capital Management will focus on “direct lending opportunities”
Ben Lane
Bank of New York Mellon is partnering with Amherst Holdings to launch a new company that will focus on real estate credit management. According to the companies, BNY Mellon and Texas Treasury Safekeeping Trust Company have made “significant capital commitments” to the new company.
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Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news
Ben Lane
Just when it looked Ocwen Financial may finally be getting some good news, the nonbank was hit with an avalanche of bad news. A new report from Compass Point says that Ocwen was just terminated as servicer on two RMBS deals, and worst of all, Ocwen now stands accused of costing mortgage bond investors $26 billion.
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Fannie Mae: Strong job growth could boost economy

Hiring and wage growth will boost housing market
Trey Garrison
Despite the slate of bad news that’s started off 2015, Fannie Mae’s analysts predict that the economy is poised for a pickup in growth in 2015. Here's why.
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Capstone demands Altisource family divorce

Calls for Altisource Residential to terminate Altisource Asset Management agreement
Ben Lane
Over the last few months, Ocwen, Altisource Portfolio Solutions and Home Loan Servicing Solutions bore the brunt of the regulatory and investor scrutiny — Altisource Residential and Altisource Asset Management escaped mostly unscathed. But now, Altisource Residential is the target of an investor who’s demanding an Altisource family divorce.
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The Atlantic asks why homebuilders build homes people want

The mediocrity and mendacity of thinking you know what’s best for everyone else
Trey Garrison
Talking about homebuilding and homebuying, The Atlantic stakes this reasoned position - "The whole world won't listen to what I'm telling it to do. What's wrong with the world?"
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FHFA: House prices edge up 1.4% in December

Smaller inventories provide upward pressure
Trey Garrison
Smaller inventories helped push house prices slightly higher in December. Here's the rundown on what happened.
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Nationstar missed on 4Q14 net income of $19M

Bray: Growth prospects for Nationstar are significant
Brena Swanson
Nationstar posted fourth-quarter net income of $19 million, significantly down from $111 million in the third quarter. Despite the drop, the company believes it is well positioned for 2015 from a capital, technology and operational perspective.
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