HUD: Associated Bank ‘redlining’ settlement largest ever

HUD: Associated Bank ‘redlining’ settlement largest ever

HUD Secretary Castro says settlement “sends a strong message”

Housing in places like New York, San Francisco fail more than just the locals

Local policies curtail worker freedoms

Caution: GSE reform could have serious unintended consequences

Guest blog by former Ginnie Mae president Joseph Murin
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News

RBS mortgage settlement with FHFA could reach $4.5B

First of 18 lawsuits from FHFA
Brena Swanson
The Royal Bank of Scotland Group could pay as much as $4.5 billion to resolve claims of misconduct in its handling of U.S. mortgage securities, marking the first out of 18 lawsuits from the Federal Housing Finance Agency to reach trial.
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Freddie Mac: The top 5 improving metros right now

Housing market recovery chugs along
Brena Swanson
While still struggling, the housing market is improving. Freddie Mac’s latest housing report highlights 5 metros that are outpacing the rest of the market.
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HUD: Associated Bank ‘redlining’ settlement largest ever

HUD Secretary Castro says settlement “sends a strong message”
Ben Lane
According to HUD’s statement, the original complaint against Associated Bank was one of the largest “redlining” complaints brought by the federal government against a mortgage lender, and the $200 million settlement with Associated Bank is the largest of its kind that HUD has ever reached.
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Carrington Loan now available through wholesale lending division

Widens door for underserved borrowers
Brena Swanson
Carrington Mortgage Services is once again widening the door for underserved borrowers. This time the lender is making its Carrington Loan available through its national wholesale lending division.
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Altisource hires Jim Leath as vice president

Will oversee enterprise sales and business development
Ben Lane
In this role, Leath will be part of Altisource’s sales and business development team, and be responsible for sourcing and managing enterprise clients.
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Los Angeles spec home to list for record $500 million

Is spec home demand growing?
Brena Swanson
The $500 million price tag of this new home in Los Angeles makes it one the most outrageous speculative homes built to date and features 360-degree views of the Pacific Ocean, Beverly Hills, downtown Los Angeles and the San Fernando Valley. Are spec homes the next big thing?
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Mortgage application activity ticks down in MBA survey

Drop in refinancings continues drag
Trey Garrison
Mortgage applications dropped 1.6% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending May 22, 2015.
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ditech expands its consumer direct channel in Florida

Plans to hire more loan specialists
Brena Swanson
Since Ditech Mortgage Corp launched back into the industry in March 2014, it has made several key changes to once again be a major player in the mortgage space. This time around the lender announced it is expanding its consumer direct channel into the Jacksonville, Florida, area.
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Caution: GSE reform could have serious unintended consequences

Guest blog by former Ginnie Mae president Joseph Murin
Joseph Murin
Former Ginnie Mae president Joseph Murin knows first-hand how important the government backstop to the mortgage industry is…and it’s not just for lenders. Without the government guarantee for mortgages, it will be the consumer who suffers most, Murin says.
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Freddie Mac completes sale of $201 million pool of Ocwen-serviced loans

Third sale of the year
Brena Swanson
The chain continues as Freddie Mac announced it officially sold 1,052 deeply delinquent Ocwen serviced non-performing loans from its mortgage investment portfolio as part of its Standard Pool Offerings.
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