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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News

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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Mortgage servicer satisfaction back from the brink

J.D. Power releases satisfaction survey
August 1, 2014
The industry has come a long way since the financial crisis. As revealed in the latest J.D. Power mortgage servicer satisfaction survey, the overall satisfaction average increased to 754 in 2014, up from 733 in 2013.
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$1.2 billion Fannie, Ginnie bulk MSR portfolio for sale

Loans carry weighted average note rate of 3.75%
August 1, 2014
Fannie Mae and Ginnie Mae each back a separate pool of the underlying loans. IMA is requesting separate bids to be submitted for the Fannie pool and the Ginnie pool to allow consideration by the seller to sell the pools separately.
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New York now allows shared appreciation mortgage modifications

New regulation announced without fanfare in state register
August 1, 2014
Per the new rules, each shared appreciation agreement must contain "a conspicuous legend at the top of the agreement printed in at least fourteen-point type, consisting of substantially the following language: 'IN THIS AGREEMENT, YOU ARE GIVING AWAY SOME OF ANY FUTURE APPRECIATION IN THE VALUE OF YOUR HOME. PLEASE READ CAREFULLY.'"
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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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Plosser speaks on FOMC dissent vote

Only president to vote no
August 1, 2014
Due to the clear progress the economy has made toward its long-term goals, the Philadelphia Fed president no longer believes the forward guidance language in the Fed statement is appropriate or warranted.
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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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