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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Articles by Brena Swanson

CFPB proposes 7 big changes to foreclosure process for mortgage servicers

Adds guidance on extended borrower protections
Brena Swanson
The Consumer Financial Protection Bureau is proposing additional measures to ensure that homeowners are treated fairly by mortgage servicers. Here are the key changes.
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Nationstar buys title company

More plans to grow geographically
Brena Swanson
Solutionstar Holdings, an indirect wholly-owned subsidiary of Nationstar, announced it is expanding further into the mortgage business and snapped up a mortgage title company. It is also expanding operations into some of the nation's largest housing markets.
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Goldman bankers fired after leaking confidential Fed info

Banker formerly worked for Federal Reserve Bank of New York
Brena Swanson
Goldman Sachs fired two bankers due to one of them allegedly sharing confidential documents from the Federal Reserve Bank of New York within the firm.
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[CHART] FHFA: G-fees more than double in 4 years

Chronological changes in g-fees
Brena Swanson
The Federal Housing Finance Agency’s sixth annual report on the single-family guarantee fees charged by Fannie Mae and Freddie Mac included data from 2009 to 2013, showing just how intensely g-fees have increased in four years.
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Fannie Mae: Don't expect 2015 to be a breakout year for housing

New year will likely mirror 2014
Brena Swanson
“The housing market continues to grind its way upward, but we don’t expect a breakout performance in 2015 as the fundamentals remain somewhat muted,” said Fannie Mae Chief Economist Doug Duncan.
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Genworth: G-fee increases to hurt mortgage lending

53% say increases will result in fewer loans
Brena Swanson
The Federal Housing Finance Agency announced in June that it was seeking industry opinion on Fannie Mae and Freddie Mac guarantee fees, and while the results of this have not been revealed, a new survey of mortgage bankers gives a preview into what lenders expect to happen with increases.
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Freddie Mac: Rates drift below 4% again

Rates slightly down from last week
Brena Swanson
Mortgage rates ticked back down and fell below 4% again, as rates continue to fluctuate around this level. Meanwhile, the 15-year FRM dipped to 3.17%, down from 3.2% a week ago and 3.27% a year ago.
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Smaller home sizes usher in more affordable housing

Newly built homes shrink in size
Brena Swanson
The shrinking size of newly built, single-family homes in the U.S. could be the beginning of a shift toward more affordable houses.
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FOMC: Federal funds rate changes directly tied to economic changes

Participants debate federal funds rate language
Brena Swanson
While the Federal Open Market Committee concluded the more than two-year-old asset purchase program at the end of October, the anticipated path of the federal funds rate is still up for debate.
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First National expands into mortgages as others walk away

Acquires six locations from BofA
Brena Swanson
First National Corporation, the holding company for First Bank, continues to break into an industry where a lot of others are pulling away by buying up bank branches and opening up mortgage divisions.
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