Only “Number Jesters” report 2Q economic growth at 4% pace

4 factors weighing down housing in the second half of 2014

Will housing collapse?

Altos: Critics wrong about housing, it’s going to soar

2015 will see notable price appreciation
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News

Ocwen Financial posts 2Q revenue of $553.1M, up 2% Y/Y

Regulatory, compliance costs drag on $67 net income
July 31, 2014
Ocwen Financial reported net income of $67 million, or $0.48 per share, for the second quarter of 2014 compared to net income of $76.7 million, or $0.53 per share, for the second quarter of 2013
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Black Knight boosts Fidelity 2Q14 earnings

Total revenue hits $1.7 billion
July 30, 2014
"We remain excited about the recurring nature of the revenue, the market positioning of our product offerings, the significant organic revenue growth opportunities and the strong EBITDA margins that Black Knight brings to FNF," said Chairman William Foley.
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BOK Financial posts $76M 2Q net income

Mortgage banking revenue reaches $29M
July 30, 2014
"The quarter’s results reflect the earnings power inherent in our diversified business model, as several lines of business grew this quarter, including energy lending, brokerage and trading, and mortgage banking," Steven Bradshaw, president and CEO of BOK Financial, said.
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House committee says no one is being held accountable for CFPB discrimination

Director Cordray touts diversity officer, listening session efforts
July 30, 2014
CFPB Director Richard Cordray was excoriated by Republicans for not holding any senior management accountable for the history of discrimination, while Democrats said Republicans just want to defang the regulatory bureau.
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Judge orders BofA Countrywide to pay $1.3B for toxic mortgages

Settlement is just over half what feds wanted
July 30, 2014
A federal judge has ordered Bank of America’s Countrywide unit to pay $1.3 billion in penalties for junk mortgages sold to the government sponsored enterprises in the years prior to the 2008 financial crisis.
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Wall Street doesn’t see antitrust hurdles for Zillow’s Trulia acquisition

Deal would increase pricing power for combined entity
July 30, 2014
A survey of analysts, speaking off and on the record, showed that none had serious concerns about antitrust issues with the deal.
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3 Fannie policy changes help open credit box

Waiting periods adjusted
July 30, 2014
Fannie Mae updated a handful of its policies regarding significant derogatory credit events, allowing more borrowers to jump back into the housing market.
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Only “Number Jesters” report 2Q economic growth at 4% pace

Economic revisions infuriate
July 30, 2014
If an economist or economists continue to miss the mark by under-forecasting economic growth and then back-pedal by saying the revised numbers were “unexpected,” they should disqualify themselves from being called economists.
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FOMC tapers another $10 billion

Bond purchases nearly over as October approaches
July 30, 2014
The Federal Reserve decides to taper another $10 million in bond purchases. However, the FOMC cautioned that there remains significant underutilization of labor resources, with the recovery in the housing sector moving at a slow pace.
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FTC: Bill collectors posed as cops to threaten arrest

Tried to collect debts discharged in bankruptcy
July 30, 2014
The latest Consumer Financial Services Alert, from law firm Ballard Spahr, highlights alleged nefarious tactics from bill collectors in New York, including threatening to arrest borrowers.
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