Wilbur Ross quits Ocwen Financial

Wilbur Ross quits Ocwen Financial

Distressed asset investor bringing his magic to Bank of Cyprus

Dustin Johnson levels blockbuster claims at title attorneys

Is Nat Hardwick the fall guy?

CFPB proposes 7 big changes to foreclosure process for mortgage servicers

Adds guidance on extended borrower protections
W S

Investments

Home prices dropped in September for the first time since January

Black Knight: Drop was miniscule but present
Trey Garrison
At the national level, Black Knight’s September home price index reports that U.S. home prices were down slightly in September - the first time any decrease had been observed since January 2014.
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Monday Morning Cup of Coffee: Mortgage giants warm to principal reduction?

Also 2015 housing finance forecasts galore and key mortgage industry metrics
Trey Garrison
Is principal reduction about to become more common? Who hit the bulls-eye in forecasting 2014, and who just offered bull? And of those hawkeye prognosticators, what do they have to say about 2015? Get it here and get it early.
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$4.8 billion portfolio of Fannie, Freddie MSRs hits market

Available from “a highly reputable mortgage banking company”
Ben Lane
"These offerings provide an excellent opportunity to finish off your year with the purchase of a substantial amount of extremely low interest rate, high quality MSRs from a highly reputable mortgage banking company," said Interactive Mortgage Advisors, which is acting as the exclusive broker for the seller.
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SEC grants Bank of America relief in $16 billion settlement

Ends political logjam
Ben Lane
The record-setting settlement between Bank of America, the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities can finally proceed after the bank was granted relief by the Securities and Exchange Commission.
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Single-family rental bond yields are rising

Supply outpacing demand
Ben Lane
The supply of single-family rental securitizations is rising beyond the level of investor demand, and the surplus of available debt is driving yields up.
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Realtors don't deserve 3% commission?

HousingWire article sparks debate
Trey Garrison
The question generated from HousingWire's comment boards: Should Realtors and other real estate agents be just paid hourly, or should we stick with the 3% commission? The answer: Come on.
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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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