Investments

Ocwen expects another loss in 2017 thanks to NYDFS, CFPB regulatory issues

CEO: We believe we have earned the right to acquire MSRs again
Despite the California Department of Business Oversight removing the state's mortgage servicing restrictions on Ocwen Financial, the nonbank is still prohibited from acquiring mortgage servicing rights in bulk thanks to the company’s previous settlement with the New York Department of Financial Services, the company's executives told investors on Wednesday. And those restrictions and other "regulatory challenges" will likely lead to another yearly loss for the nonbank.
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Ocwen falls back into the red in Q4, but results are much better than last year

Posts net loss of $10.4 million compared to loss of $224.3 million in 2015
Ocwen Financial surprisingly returned to profitability in the third quarter of 2016, breaking a four-quarter streak of losses, but the company’s time in the black appears to be short-lived. The nonbank reported Wednesday that it posted a net loss for the fourth quarter of 2016, but the loss is far smaller than the company reported during the same time period last year.
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B. Riley Financial acquiring FBR & Co. in $160 million deal

Combined firm will provide research coverage for 600 companies
B. Riley Financial, a financial services firm, announced Wednesday that it is acquiring FBR & Co., an investment banking and brokerage firm, in a deal that values FBR at $160.1 million. “B. Riley Financial and FBR combined will become a clear leader in small cap investment banking and brokerage in the U.S. with 600 names under research coverage,” the companies noted in a release.
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Want to be on the cover of HousingWire Magazine? Here's your chance

One Rising Star award winner honored with magazine cover
Have you ever wanted to be on the cover of a magazine? You get to show off to all your friends, family, and colleagues – many of whom will likely come traipsing into your office and begrudgingly ask for your autograph. Have you ever wanted to the envy of the entire housing industry? Well, here’s your chance to do both.
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Texas housing is now hotter than ever

Record sales and home prices, but it's not all sunshine and roses
It was another record-setting year for Texas real estate, as home sale and home prices both hit all-time highs – for the second year in a row. According to a new report from the Texas Association of Realtors, there were more homes sold in the Lone Star State in 2016 than in any other year, eclipsing the previous high, which stood for all of one year.
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Nationstar revenue increases 45% in Q4

Net income increases nearly 500%
Nationstar finished 2016 with a bang, increasing its revenue by 45% and its net income by nearly 500%. But those aren’t the only increases the company saw during the fourth quarter. Nationstar’s CEO explains what this means for the company in 2017.
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Fannie, Freddie stock plummets after court decision dents shareholders' prospects

But still trading above pre-election totals
Shares of Fannie Mae and Freddie Mac went into free fall on Tuesday after the U.S. Court of Appeals for the District of Columbia Circuit ruled that Fannie and Freddie shareholders cannot pursue many of their claims related to the so-called “Third Amendment sweep.” But despite the drop, both Fannie and Freddie are still trading above where they were prior to the election of President Donald Trump.
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Another Republican senator introduces bill to "dismantle" CFPB

Sen. Mike Rounds wants to cut off all CFPB funding
Sen. Ted Cruz, R-Texas, introduced a bill repealing Title X of the Dodd-Frank Wall Street Reform Act, which established the CFPB. But Cruz wasn’t alone last week in launching a full-scale assault on the controversial governmental agency. Sen. Mike Rounds, R-South Dakota, also introduced a bill last week that would kill off the CFPB, albeit in a different way than Cruz’s bill.
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Court rejects hedge funds claims in Fannie, Freddie profit sweep

But all is not lost
Fresh off handing down a significant ruling in the battle over the constitutionality of the Consumer Financial Protection Bureau, the U.S. Court of Appeals for the District of Columbia Circuit just dealt a sizable body blow to the investors who claimed that the government’s decision to sweep all the profits from Fannie Mae and Freddie Mac into the government’s coffers was not only unnecessary, but illegal as well.
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Hensarling compares CFPB to a tyranny

House Financial Services Committee Chairman continues assault on CFPB
It’s probably safe to say that House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, is no fan of the Consumer Financial Protection Bureau. And as Hensarling told the Dallas Morning News in a recent interview, there are plenty of good reasons to change the CFPB.
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