Ocwen Chairman Erbey resigns as company admits misconduct

Ocwen Chairman Erbey resigns as company admits misconduct

Company to pay $150 million to homeowners

Ocwen CEO unveils company’s new direction

Plans to exit agency servicing; increase mortgage originations

This Des Moines court case may change the Freddie, Fannie investor sweep

Judge will rule whether Continental Western Insurance has standing
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News

Wells Fargo sued over subprime securities

HSBC, other banks also tied to lawsuit
Brena Swanson
This time Wells Fargo and several other top banks were sued by an Irish securities firm, which claimed the banks failed to protect investors from home loans that defaulted after the financial crisis.
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Fidelity National planning Black Knight IPO

Company files registration statement with SEC
Ben Lane
In what constitutes a "Back to the Future" moment for Fidelity National, the company is planning an initial public offering of stock in its subsidiary, Black Knight Financial Services. If approved, the company would trade on the New York Stock Exchange under the ticker symbol "BKFS."
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This Des Moines court case may change the Freddie, Fannie investor sweep

Judge will rule whether Continental Western Insurance has standing
Trey Garrison
Investors in Fannie and Freddie are watching to see if a U.S. District Court judge will revive the discussion on whether the government's third amendment sweep of GSE profits is legal. Here are the details.
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Morningstar: True cost of Ocwen settlement far exceeds $150 million

Settlement could halt any long-term growth
Ben Lane
If Ocwen Financial thought that its regulatory troubles were over now that it settled with the New York Department of Financial Services for $150 million, the beleaguered company has another thing coming. The increased regulatory scrutiny and loss of its chairman could cripple Ocwen's growth, according to Morningstar.
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S&P close to settlement on real-estate bond ratings

Ratings company faces fine and suspension
Brena Swanson
Standard & Poor’s Ratings Services is finally nearing a settlement with regulators over their investigation of how the company graded real-estate bonds, potentially impacting the rating company's ability to perform certain ratings deals.
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Freddie Mac: Mixed housing news drives mortgage rates up slightly

Still comfortably below 4%
Ben Lane
Weaker than expected housing and economic data drove a slight uptick in mortgage rates in the last week. But on the bright side, mortgage rates are still near yearly lows.
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RealtyTrac: Buying more affordable than renting most everywhere

Well, everywhere but where millennials are moving most
Trey Garrison
Renting is more expensive than buying in most markets, except, notably, where millennials are moving most. Here's the rundown.
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Fed announces exemption adjustment for smaller loans

New exemption level starts Jan. 1
Trey Garrison
The Federal Reserve released its revised exemption level clearing smaller loans from the appraisal requirement of larger mortgage loans. Here are the details.
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Consumer sentiment rises strongly from November

Confidence grew stronger as weeks passed
Trey Garrison
Consumer sentiment picked up in December, after a disappointing November. Here's how it broke out.
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Mortgage applications tick up 0.9%

Refinancing share increases
Trey Garrison
Mortgage applications finally saw a trend reversal, ticking up slightly for the week ending Dec. 19 after several weeks of consistent declines.
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