Dustin Johnson levels blockbuster claims at title attorneys

Wilbur Ross quits Ocwen Financial

Distressed asset investor bringing his magic to Bank of Cyprus

CFPB proposes 7 big changes to foreclosure process for mortgage servicers

Adds guidance on extended borrower protections
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Investments

Wilbur Ross quits Ocwen Financial

Distressed asset investor bringing his magic to Bank of Cyprus
Wilbur Ross, the high-risk turnaround exec famous for charging into metaphoric burning buildings of European financial institutions, is leaving Ocwen Financial and several other companies where he serves as a director.
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Goldman bankers fired after leaking confidential Fed info

Banker formerly worked for Federal Reserve Bank of New York
Brena Swanson
Goldman Sachs fired two bankers due to one of them allegedly sharing confidential documents from the Federal Reserve Bank of New York within the firm.
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Did FHFA’s Watt open the door to ending Fannie, Freddie conservatorship?

Civil rights groups join calls to bring GSEs out from nest
Trey Garrison
When Federal Housing Finance Agency Director Mel Watt spoke before the Senate Banking Committee on Wednesday he opened the door to the possibility of ending the GSE conservatorship.
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What the end of QE means for the future of the MBS market

MBA details the challenges of increasing private capital
Trey Garrison
A new white paper from the Mortgage Bankers Association looks at what the future holds for the real estate finance industry secondary market now that the Federal Reserve has put a full stop on its quantitative easing program, wherein it pumped trillions of dollars into mortgage backed securities.
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Existing home sales tick up 1.5% in October

Second month in a row of gains brings pace to highest in 11 months
Trey Garrison
Existing-home sales rose in October for the second straight month and are now above year-over-year levels for the first time in a year, according to the National Association of Realtors.
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Flipping activity continues to decline as prime inventory dwindles

Profits still top 36% for investors
Trey Garrison
The third-quarter report from RealtyTrac on flipping shows that 26,947 single-family homes were flipped nationwide in the third quarter of 2014 — where a home is purchased and subsequently sold again within 12 months — representing 4% of all U.S. single-family home sales.
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Fannie Mae’s latest risk-sharing deal prices wide

Bond backed by $53.8 billion in unpaid principal balance
Ben Lane
Fannie Mae announced that it priced its fourth, and final, risk-sharing bond deal of the year under its Connecticut Avenue Securities label, Connecticut Avenue Securities 2014-C04, which carried a total unpaid principal balance of $53.8 billion. The deal priced wide compared to Fannie’s last Connecticut Avenue offering.
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Sam Zell: There’s no tremendous demand for real estate

Price growth is solid and sustainable; demographics changing
Trey Garrison
Billionaire Investor Sam Zell looks at the American housing market, and like a tuna sandwich, it’s not much to get excited about one way or the other.
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$1.2 billion Fannie, Freddie MSR portfolio available for sale

Seller hopes for sale by year-end
Ben Lane

“It’s a very desirable deal: you have size, a strong seller, and clean product,” said Robert Wellerstein, managing director at MountainView Servicing Group. “That’s what you should be looking for as a buyer.”


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Sen. Warren accuses FHFA’s Watt: “You haven’t helped a single family”

Senator charges FHFA with dereliction on principal reduction
Trey Garrison
What started as a dry, lame-duck session hearing on the Federal Housing Finance Agency in the Senate Banking Committee on Wednesday, got heated when U.S. Sen. Elizabeth Warren, D-Mass., went guns blazing after the FHFA director.
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