Things at Ocwen just went from bad to much, much worse

Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news

Pending home sales surge to highest level in 18 months

Buyer demand boosts sales

Foreclosure: The Movie… (finally!) coming to a screen near you

In new film, neighborhood of foreclosed homes drives man insane
W S

News

Saudi prince lists luxurious New York nest for $48.5M

Includes three bullet-proof panic rooms… if you need it
Brena Swanson
A Saudi prince on New York’s Upper West Side is listing his roughly 10,500-square-foot triplex apartment for $48.5 million. And the real perk is what is included in the apartment.
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BNY Mellon and Amherst form new real estate credit company

Amherst Capital Management will focus on “direct lending opportunities”
Ben Lane
Bank of New York Mellon is partnering with Amherst Holdings to launch a new company that will focus on real estate credit management. According to the companies, BNY Mellon and Texas Treasury Safekeeping Trust Company have made “significant capital commitments” to the new company.
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Urban Institute: 3 charts reveal the renter next door

Who are they?
Brena Swanson
An unexpected side effect of the mortgage crisis has been the replacement in many neighborhoods of single-family homeowners with renters. Here's who those people are in three charts.
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This is why it's a great time to be a real estate agent

But how long will it last?
Brena Swanson
The housing crisis put a significant dent in the number of registered real estate agents, leaving the ones who stuck around a good-looking paycheck.
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Mortgage Bankers Association adds 31 new members

See who joined the MBA in January
Ben Lane
The Mortgage Bankers Association announced that it welcomed 31 new members into its ranks in the month of January.
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Problem with your Zestimate? You can now immediately change it

Zillow cuts Zestimate update time from weeks to minutes
Ben Lane
One of the main issues that many Zillow users had with the website was the time it took to update a Zestimate, the property value estimation tool built into every listing on Zillow. Now, instead of it taking weeks to update a Zestimate, Zillow will allow users to update a Zestimate immediately.
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Guaranteed Rate names Jonathan Mullins regional manager, SVP

Brings more than 13 years of experience
Brena Swanson
Guaranteed Rate named Jonathan Mullins regional manager and senior vice president, where he will oversee the company’s mortgage lending, sales and operations in Louisiana, Mississippi and south Texas.
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10 reasons the housing market could go ballistic this spring

Even FOMO makes the list
Brena Swanson
The housing market is about to head into the start of the spring homebuying season, but looking at these ten facts, the wheels might already be starting to turn.
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Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news
Ben Lane
Just when it looked Ocwen Financial may finally be getting some good news, the nonbank was hit with an avalanche of bad news. A new report from Compass Point says that Ocwen was just terminated as servicer on two RMBS deals, and worst of all, Ocwen now stands accused of costing mortgage bond investors $26 billion.
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United Wholesale tool keeps Realtors updated on mortgage status

Updates UTrack tool
Brena Swanson
Right now the industry is looking for greater transparency between borrowers and lenders in the industry. United Wholesale Mortgage’s enhanced version of UTrack is designed to fulfill that need.
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