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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Auction.com's latest acquisition will speed property liquidations

Acquires real estate tech provider Channel
Brena Swanson
Auction.com acquired real estate technology solutions provider Channel, a move that supports the company’s newest title as the leading online auction marketplace in HW’s 2015 TECH100.
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CFPB Director Cordray talks HMDA data, bank rules 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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DOJ fines JPMorgan Chase $50 million for robo-signing

Chase admits to misfiling mortgage documents
Ben Lane
JPMorgan Chase admitted to misfiling more than 50,000 payment change notices in bankruptcy courts that were “improperly signed, under penalty of perjury, by persons who had not reviews the accuracy of the notices,” and will pay more than $50 million to homeowners as part of a settlement with the U.S. Department of Justice over its mortgage practices.
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Here are the details of Freddie’s massive delinquent loan sale

Sale sets foundation for new servicing rules
Brena Swanson
The Federal Housing Finance Agency’s new requirements for sales of nonperforming loans by Freddie Mac and Fannie Mae were based on the sale of two pilot sales. These are the details to one of those transactions.
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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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CoreLogic: Home prices gain nearly 6%

Projects home prices to rise 4.9% in January 2016
Trey Garrison
CoreLogic's home price index says that January saw home price increases of 5.7% from last year. Here's how it breaks down.
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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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Realtor's client murdered during home showing

Gunman walks into home during showing
Brena Swanson
A gunman walked into a home and opened fire while a real estate agent was showing a home to a married couple, killing the husband. This tragic event is not the first attack on real estate agents but continues to remind agents that they must take care and precautions to protect themselves.
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Altisource Portfolio Solutions reports 2014 net income of $134.5 million

Ocwen’s troubles force cutbacks, including layoffs
Ben Lane
Despite its business taking a hit due to Ocwen Financial’s regulatory troubles, Altisource Portfolio Solutions still reported a 3% increase in net income in 2014, with the company’s income rising from $129.97 million in 2013 to $134.49 million in 2014.
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This is what justifies Texas economic pride

Happy Independence Day, Texas
Brena Swanson
The Lone Star state celebrated its 179th birthday Monday. And looking at the latest housing report from the Texas Association of Realtors, Texas has plenty of reason to brag.
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