Ocwen: Mortgage bond investors mislead public, push foreclosures

Ocwen: Mortgage bond investors mislead public, push foreclosures

Fires back at “baseless, groundless” charges of mortgage payment negligence

California settlement puts Ocwen on a leash

Prohibited from acquiring California MSRs without state’s approval

Monday Morning Cup of Coffee: Ocwen settles "frustrating skirmish" with California

But that's just over file access, not file content
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News

United Wholesale Mortgage launches own LOS

Unveils a new type of origination software
Brena Swanson
As one of the reported top wholesale lenders in the industry, United Wholesale Mortgage took on the challenge of releasing its own loan origination system. The result takes into account standard elements, along with new unique features.
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Ocwen: Mortgage bond investors mislead public, push foreclosures

Fires back at “baseless, groundless” charges of mortgage payment negligence
Ben Lane
Ocwen fired back at claims of mortgage payment negligence, saying that the mortgage bond investors that accused it of failing in its duties as servicer have ulterior motives. “Your letter obscures the ultimate objective of your investor clients: to stop servicers from modifying loans and force them to foreclose on and evict as many struggling homeowners as quickly as possible,” Ocwen said in response.
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California settlement puts Ocwen on a leash

Prohibited from acquiring California MSRs without state’s approval
Ben Lane
It appears that the threat by the State of California to suspend the mortgage license Ocwen Financial is over, at least for now. The beleaguered nonbank confirmed that it settled with the California Department of Business Oversight, which was threatening to suspend Ocwen’s mortgage license.
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Solutionstar completes acquisition of Title365

Firm to leverage acquisition to expand beachhead in California
Trey Garrison
Solutionstar expects to speed operations through added efficiency, by using Title365’s licenses to expand into new geographic markets, particularly in California. Here's how.
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Sindeo's twist on modern mortgage lending

Hires 4 new executives to bolster growth
Brena Swanson
Although the industry is moving online, Sindeo’s new mortgage model adds its own spin on the standard online application, one that views a loan officer as a necessity.
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January existing home sales come in flat compared to December

2015 sales expected to pick up where 2014 left off
Trey Garrison
Auction.com's Nowcast provides an early peek at existing home sales for January, and compared to December's number, it's like the highway between Dallas and Fort Worth — no curves. Here are the details.
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D.R. Horton beats expectations, 1Q revenue jumps 38%

Well-positioned for spring selling season
Brena Swanson
D.R. Horton fared well in the first quarter, with its homebuilding revenue jumping 38% to $2.3 billion, putting it in a strong position to enter the spring selling season.
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Monday Morning Cup of Coffee: Ocwen settles "frustrating skirmish" with California

But that's just over file access, not file content
Trey Garrison
Ocwen ended its disastrous week on Friday by settling with the state of California for $2.5 million — but that's just to ensure the state gets the information it asked for. Any violations that turn up once it has the information could be a whole other ball of wax.
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Ocwen sued by investors for mortgage payment negligence

Preparing to sue embattled nonbank
Ben Lane
Some of the country’s biggest mortgage bond investors, reportedly including BlackRock, MetLife, and Pimco, are preparing to sue Ocwen, saying that the beleaguered nonbank failed to properly collect payments on $82 billion of home loans.
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Zillow plans event to “hack” housing

Offers $10,000 prize for creative solutions to jumpstart market
Ben Lane
Zillow is planning a weekend “hackathon” where developers will be challenged to invent the most innovative way to make it easier for buyers to find an affordable home. The prize for the most creative idea? $10,000.
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