Ocwen's regulatory burdens send up red flags and drive down stock price

Ocwen's regulatory burdens send up red flags and drive down stock price

Analysts lower price target, Citi drops buy recommendation

Activist investors critique Zillow, Trulia deal

Valuations skyrocket while earnings expectations have fallen

4 factors weighing down housing in the second half of 2014

Will housing collapse?
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Investments

Trustees to accept $4.5 billion JPMorgan settlement

Settlement talks had stalled in January
August 1, 2014
The Reuters report states that the trustees representing the defrauded investors are set to accept the settlement for a “vast majority” of the trusts that they represent. The settlement was originally agreed to in November 2013.
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Freddie Mac sells $659 million in “deeply delinquent” loans to unknown buyer

Executes first sale of seriously delinquent loans
August 1, 2014
Freddie selected the winning bidder “on the basis of economics” from a pool of 22 prospective buyers that took part in the auction. When contacted, Freddie declined to identify the winner of the auction.
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Ocwen's regulatory burdens send up red flags and drive down stock price

Analysts lower price target, Citi drops buy recommendation
August 1, 2014
Heightened regulatory burdens and compliance costs continue to drag on Ocwen Financial a day after its second quarter earnings are announced.
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Will renovation spending offset drop in construction spending?

Two-thirds of homeowners plan renovation in rest of 2014
August 1, 2014
After the biggest drop in construction spending since January 2011, contractors may find some relief in the finding that 67% of consumers plan home renovations within the next six months.
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Nationstar faces challenges as Wall Street turns skeptical on nonbank MSRs

Valuation, regulatory headwinds come despite growing customer satisfaction
August 1, 2014
Nationstar isn’t facing quite the level of pushback or regulatory targeting as its counterpart Ocwen Financial, but it is having a devil of a time lately and it was reflected in reports and on the market boards Friday.
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Construction spending falls 1.8% from May in biggest drop since Jan. 2011

Construction spending in June up 5.5% year-over-year
August 1, 2014
Construction spending in June came in at a seasonally adjusted annual rate of $950.2 billion, down 1.8% from the revised May estimate of $967.8 billion, but 5.5% above the June 2013 estimate of $900.3 billion. It's the biggest monthly drop since January 2011.
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MERS and ICE in talks to merge

Steps into $9.4 trillion mortgage market
August 1, 2014
Intercontinental Exchange, which is best known for energy trading, could possibly be stepping into the mortgage market. The company is currently in negotiations to form a partnership with Mortgage Electronic Registration Systems.
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Unemployment rate rises to 6.2% as job growth misses expectations

Housing industry experts not impressed with July numbers
August 1, 2014
Total nonfarm payroll employment increased by 209,000 in July, well below the expected 230,000 and below June’s 298,000.
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Two Harbors brings $268 million prime jumbo RMBS to market

Agate Bay Mortgage Trust 2014-1 receives AAA ratings from S&P
July 31, 2014
Standards & Poors Ratings Services has awarded primarily AAA ratings to the securitization’s classes due to the high quality of the collateral, among other positive indicators.
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Trulia posts 2Q14 net loss of $2.4M on rising revenues of $64.1M

Acquisition target posts dramatic web traffic gains
July 31, 2014
Trulia reported total revenue of $64.1 million, up 116% year-over-year, with a net loss of $17.9 million, compared with a net loss of $2.4 million for the second quarter of 2013.
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