Home Loan Servicing Solutions stock craters after investors get paid

Home Loan Servicing Solutions stock craters after investors get paid

Payout of $1.2 billion headed to stockholders

Homeownership rate falls to lowest since 1993

Economists question whether tumble will continue or has bottomed out

Ocwen’s road ahead: Well, can't get any worse

Fall down seven times, get up eight?
W S

News

Obama: Here are 8 lucky communities chosen to build prosperity

Administration names new "Promise Zones"
Brena Swanson
After 123 applications from 36 states, the official list of chosen communities is out. Here’s the Obama Administration’s eight new Promise Zone communities.
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Home Loan Servicing Solutions stock craters after investors get paid

Payout of $1.2 billion headed to stockholders
Ben Lane
Home Loan Servicing Solutions stock fell off a cliff Tuesday morning as the company moves one step closer to completing its sale to New Residential Investment. After closing Monday at $17.18 per share, HLSS is currently trading at $0.68 per share, a drop of more than 96%.
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Homeownership rate falls to lowest since 1993

Economists question whether tumble will continue or has bottomed out
Trey Garrison
The homeownership rate continued its multi-year slide, falling to a rate not seen since 1993. Are we near the bottom and there’s nowhere to go but up, or does the slide continue? Let’s find out.
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FHFA: Mortgage interest rates slightly rise in March

Still remain at record lows
Brena Swanson
Interest rates on conventional purchase-money mortgages slightly increased from February to March. But despite the slight rise, rates are still significantly down from a year ago.
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Flagstar beats 1Q income expectations on strong mortgage volume

Revenue up on improved gain on sale margins
Trey Garrison
Mortgage volume increases for Flagstar, providing a solid tail wind as the company also sees revenue growth after the company reworked its approach to mortgage origination.
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February distressed sales shares drop to 2008 levels

Ongoing shift away from REO sales driving price increases
Trey Garrison
The share of distressed home sales continues to decline, which in turn is putting additional upward pressure on home prices. But there's a way to go before the housing market gets back to normal. Here's what's happening behind the scenes.
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Case-Shiller: Home prices rise faster than expected

Annual growth rate for 20-city index accelerates to 5%
Trey Garrison
Home prices continued their rise across the country over the last 12 months, according to the S&P/Case-Shiller Home Price Indices that incorporate data through February 2015. But the housing industry has a long way to go. Here's why.
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Coming soon: The Tesla home battery

Electric car company venturing into residential energy storage
Ben Lane
Tesla Motors, the company that plans to revolutionize automobiles with its electric car, is planning a new revolution that aims to transfer how we power the rest of our lives. How will the home battery impact mortgages?
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Auction.com adds Lawrence Yuan as senior director of engineering

Former Linkedin and Yahoo engineer joins real estate marketplace
Ben Lane
Auction.com announced the addition of Lawrence Yuan as the online real estate marketplace’s new senior director of engineering. In this role, Yuan will oversee the development of web and mobile products and applications.
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What’s the impact of Green Tree’s $63 million fine?

Moody’s weighs in on company’s future
Ben Lane
Unsurprisingly, Green Tree Servicing could be facing several negative outcomes, including a potential downgrade to its servicer ratings, in the wake of its $63 million fine from the Consumer Financial Protection Bureau and the Federal Trade Commission. A new report by Moody's details what could be in Green Tree's future.
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