Zillow plans event to “hack” housing

Zillow plans event to “hack” housing

Offers $10,000 prize for creative solutions to jumpstart market

CFPB goes after Wells Fargo, JPMorgan for mortgage kickback scheme

Mega banks will pay $35.7 million total

Here are the hottest neighborhoods for 2015

This year it’s all about affordability
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News

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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Rarity: BofA celebrates new branch opening in Denver

Opens new location in new market
Jacob Gaffney
News comes as bank continues to ditch hundreds of branches in many other markets. The bank is also experimenting with simpler "express" branches, those that do not employ tellers.
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Greystone adds Raphael Inzlicht as VP of development

Tasked with leading new construction projects in NYC
Ben Lane
Greystone, a New York-based real estate development and financial group, added Raphael Inzlicht as the company’s new vice president of development. In this role, Inzlicht will lead new ground-up construction projects in New York’s five boroughs.
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This housing market will never be saved

Six years later, still struggling
Brena Swanson
According to one bold housing columnist, housing will never spring back to its pre-recession levels. Despite all the government’s best attempts to spur activity again, these headwinds will remain.
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Freddie Mac: Hybrid ARMs are “hot”

Annual Adjustable-Rate Mortgage Survey shows impact of low interest rates
Ben Lane
Hybrid adjustable-rate mortgages continue to be the most popular ARM loan product offered by lenders and chosen by borrowers, according to the 31st Annual Adjustable-Rate Mortgage Survey of prime loan offerings from Freddie Mac.
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Hedge fund claims Ocwen breached bond covenants

Blue Mountain Capital reveals short position
Ben Lane
Hedge fund BlueMountain Capital Management sent notices of default to embattled nonbank Ocwen Financial and its affiliated company, Home Loan Servicing Solutions on Friday, saying that Ocwen’s regulatory troubles have caused an “irrefutable” default on notes the hedge fund owns.
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Zillow, Trulia merger expected to get FTC go-ahead

Stocks soar by midday
Jacob Gaffney
While shareholders approved the deal last month, there were a few hold-ups from regulators. By midday today the share price is up more than 5% for Trulia and more than 10% for Zillow.
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4 reasons borrowers need to refinance now

Is it time for a refi boom?
Brena Swanson
Mortgage rates are dropping to record lows once again, creating a similar push to refinance as that seen two years ago. And despite the huge portion of people that chose to refinance at that time, there are still a handful of reasons for why now is still a good, or necessary, time to refinance.
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Texas mortgage market will still shine in 2015

Oil bust? Give me a break
Marcus McCue
Despite everything going on in the oil industry, the Texas housing market is still poised to shine in 2015. Texas-based Guardian Mortgage explained that 2015 looks to be both bigger and better than last year; itself a pretty decent year.
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