DOJ fines JPMorgan Chase $50 million for robo-signing

DOJ fines JPMorgan Chase $50 million for robo-signing

Chase admits to misfiling mortgage documents

This is what justifies Texas economic pride

Happy Independence Day, Texas

Morgan Stanley expects mortgage bond lawsuit from New York AG

Subprime securitizations at the center of lawsuit
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Investments

CFPB Director Cordray talks HMDA exemptions and more

Here’s his prepared opening statement
Trey Garrison
Consumer Financial Protection Bureau Director Richard Cordray goes into the coliseum today at 2:30 p.m. ET but here’s a preview of his opening remarks.
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Sterne Agee lowers and suspends estimates on Ocwen’s debt refi

Analysts unsure what new Ocwen will look like going forward
Trey Garrison
Ocwen isn't going away but it is undergoing a transformation. Here's what analysts think now and why they don't know what to think going forward.
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Ocwen troubles aren’t over yet

Preparing to book $370-$420 million goodwill charge off
Ben Lane
When Ocwen Financial does finally report its yearly financial data, there will be several more negative items in the ledger, and the company is attempting to preemptively alleviate investor concerns by getting out in front of the news. In a press release Monday, the company said that it is expecting its fourth quarter and year-end results to be affected by a $370-$420 million non-cash charge to write-off goodwill.
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Clear Capital: San Francisco facing bubble 2.0?

City by the Bay a bellwether for state, nation
Trey Garrison
San Francisco is often called the canary in the coal mine for housing, and some submarkets look a little bubbly. What does it mean? Clear Capital offers one answer.
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This Dr. Seuss-inspired home is everything you think it would be

Happy birthday Dr. Seuss!
Trey Garrison
You can see it from the road, you can see it with a toad. You can see it from a plane, you can see it is not plain. Climbing the steps will make you tire. Click here to see on HousingWire.
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LAPD shooting of homeless suspect highlights HUD challenge

Warning: Graphic video
Trey Garrison
The shooting Sunday of a homeless suspect by Los Angeles police officers brought to the forefront again the problem of homelessness and violence, and reiterates why the administration is pushing so hard to reduce the problem.
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Morgan Stanley expects mortgage bond lawsuit from New York AG

Subprime securitizations at the center of lawsuit
Ben Lane
It turns out that Morgan Stanley is not out of the woods when it comes to trouble with regulators. Far from it, in fact. The company disclosed that it is expecting to be the subject of a lawsuit filed by New York Attorney General Eric Schneiderman over approximately 30 subprime securitizations sponsored by the company.
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Construction spending slows in January

Residential, private construction both slip at start of 2015
Trey Garrison
Construction spending slowed down in January, and it wasn't just the weather at work. Here's what happened.
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FBR downgrades Nationstar, Walter Investment

Move comes after both posted losses last week
Trey Garrison
Nonbanks have been in the barrel in the last week, and now it's Walter Investment and Nationstar's turn. Here's what's happening.
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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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