Ocwen Chairman Erbey resigns as company admits misconduct

Ocwen Chairman Erbey resigns as company admits misconduct

Company to pay $150 million to homeowners

Existing home sales collapse 6.1% in November

Tumble comes amid record low declining rates, prices

Monday Morning Cup of Coffee: Oil’s crash will impact MBS market

Mortgage fraud is still a problem, plus the gift of housing metrics
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The Ticker

America’s housing market value soars to $27.5 trillion

Houston ranks first in home price appreciation
Brena Swanson
America’s housing market value has drastically increased over the past year. As Zillow notes in the article, this goes to show just how important the housing market is.
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Minecraft creator outbids Beyoncé and Jay Z for home

Persson now owns $70M Beverly Hills megamansion
Trey Garrison
What do you do after MicroSoft buys your game for $2.5 billion? You go and snatch a mansion right out from under two musical superstars.
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Ellen DeGeneres lists two Los Angeles condos

Priced close to $16 million
Brena Swanson
On screen, Ellen DeGeneres is known for her comedic talk show. But along with her days on television, DeGeneres is known for her love of fixing up and selling houses.
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AmeriSave Mortgage joins 97% LTV pioneer club

Lender jumping into Fannie’s lower down program
Trey Garrison
Only a handful of lenders so far have jumped on board the 97% LTV train, and AmeriSave Mortgage is the latest. Here's why they think it's a good choice.
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Mortgage bond spreads tighten to lowest level in two years

Hesitant investors to blame
Ben Lane
Hesitant investors are driving down mortgage bond yield spreads to a level not seen in more than two years. Is the rise in overall yields to blame?
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Ocwen accused of stalling short sales

NYDFS and CFPB investigate
Brena Swanson
Ocwen just can't get out from under the spotlight of housing regulators. This time the servicer is being accused over whether it improperly stalled short sales by borrowers who owe more than their homes are worth.
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Initial jobless claims decline slightly for the week

4-week rolling average ticks down marginally
Trey Garrison
Jobless claims declined slightly, with some of it being seasonal employment in time for the holiday season. Here are the details.
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Countrywide whistleblower will receive $57 million

Edward O’Donnell to get part of record Bank of America settlement
Ben Lane
The whistleblower at the center of the so-called "Hustle" case against Bank of America over Countrywide mortgage loans will also receive a hefty payout for his participation in the record $16.65 billion settlement between BofA and the U.S. Department of Justice to resolve claims over toxic mortgage-backed securities on residential mortgage loans sold to Fannie Mae and Freddie Mac.
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Yellen talks interest rates and oil prices

Fed Chair comments on FOMC announcement
Brena Swanson
Federal Reserve Chair Janet Yellen commented on two hot topics in the market right now: interest rates and oil prices. And her answers might surprise you.
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Bank of America, U.S. Bancorp face another MBS suit

NCUA files lawsuit against two large banks
Brena Swanson
Some of the country's biggest banks are facing another mortgage-related lawsuit. This time the National Credit Union Administration Board is filing the suit, claiming that both Bank of America and U.S. Bancorp failed to review mortgage loan files for irregularities.
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