Wilbur Ross quits Ocwen Financial

Wilbur Ross quits Ocwen Financial

Distressed asset investor bringing his magic to Bank of Cyprus

Dustin Johnson levels blockbuster claims at title attorneys

Is Nat Hardwick the fall guy?

CFPB proposes 7 big changes to foreclosure process for mortgage servicers

Adds guidance on extended borrower protections
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News

Home prices dropped in September for the first time since January

Black Knight: Drop was miniscule but present
Trey Garrison
At the national level, Black Knight’s September home price index reports that U.S. home prices were down slightly in September - the first time any decrease had been observed since January 2014.
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Monday Morning Cup of Coffee: Mortgage giants warm to principal reduction?

Also 2015 housing finance forecasts galore and key mortgage industry metrics
Trey Garrison
Is principal reduction about to become more common? Who hit the bulls-eye in forecasting 2014, and who just offered bull? And of those hawkeye prognosticators, what do they have to say about 2015? Get it here and get it early.
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$4.8 billion portfolio of Fannie, Freddie MSRs hits market

Available from “a highly reputable mortgage banking company”
Ben Lane
"These offerings provide an excellent opportunity to finish off your year with the purchase of a substantial amount of extremely low interest rate, high quality MSRs from a highly reputable mortgage banking company," said Interactive Mortgage Advisors, which is acting as the exclusive broker for the seller.
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Want a free Bentley? Sell this house

Agent who finds buyer for $10 million house gets added bonus
Ben Lane
Whoever finds a buyer for the nearly $10 million home will not only get his or her commission on the sale, the seller is also throwing in a new a 2015 Bentley at no charge. Just consider it a little cherry on top of your normal compensation.
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SEC grants Bank of America relief in $16 billion settlement

Ends political logjam
Ben Lane
The record-setting settlement between Bank of America, the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities can finally proceed after the bank was granted relief by the Securities and Exchange Commission.
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REO agents and brokers deserve to be paid more

The paperwork alone can be mind-boggling
Lynn Effinger
Without necessarily intending to, I am going through this process currently as it relates to REO management, marketing and disposition. And it is an eye-opening process, indeed, even for this longtime veteran of this industry.
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FHFA COO found not guilty of threatening Ed DeMarco

Stood accused of threatening to shoot former FHFA acting director
Ben Lane
Richard Hornsby, the chief operating officer of the Federal Housing Finance Agency, was found not guilty of threatening former FHFA Acting Director Ed DeMarco. Hornsby stood accused of threatening to kidnap or injure a person after he allegedly threatened DeMarco at the FHFA’s headquarters in late April.
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Single-family rental bond yields are rising

Supply outpacing demand
Ben Lane
The supply of single-family rental securitizations is rising beyond the level of investor demand, and the surplus of available debt is driving yields up.
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Robin William’s $29.5M Napa Valley estate hits the market

Villa of Smiles a bittersweet legacy of late comedian
Trey Garrison
The world lost one of its sources of joy when he gave into depression, and now Robin Williams’ 639-acre estate is on the market.
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Dustin Johnson levels blockbuster claims at title attorneys

Is Nat Hardwick the fall guy?
Ben Lane
The situation surrounding the escrow account shortages discovered at LandCastle Title and the law firm of Morris Schneider Wittstadt has taken another dramatic turn, with PGA golfer Dustin Johnson filing an amended motion which accuses Mark and Rod Wittstadt of conspiring to use Nat Hardwick as a pawn and set him up to take the fall for the shortages that were discovered in the accounts of the firm and its subsidiary, LandCastle Title.
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