Monday Morning Cup of Coffee: Ocwen settles "frustrating skirmish" with California

Zillow plans event to “hack” housing

Offers $10,000 prize for creative solutions to jumpstart market

CFPB goes after Wells Fargo, JPMorgan for mortgage kickback scheme

Mega banks will pay $35.7 million total
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Articles by Lynn Effinger

FHA insurance reduction will boost housing, maybe

Is it truly a major step?
Lynn Effinger
While many think that the reduction will help millions of families save billions of dollars in mortgage payments, not everyone does. And in fact, the dent might be rather small.
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Dramatic rise in delinquency rate validates analysis of downturn

An alternative to the hype
Lynn Effinger

The fact remains that things are far worse than was consistently reported in much of the media leading up to and even following the most recent elections.  


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The truth about a housing "recovery" in 2015

Lynn Effinger looks into his crystal ball
Lynn Effinger
With a virtual plethora of articles appearing in 2014 throughout the “regular” media, the blogosphere, and various other venues regarding the strength or weakness in our economy, one could surmise that there is a clear trend. One expert says that, yes, there is a trend, but it is not a positive one.
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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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Rising foreclosure activity validates housing market getting worse

"It's no great secret to how we can improve the economy"
Lynn Effinger
With Election Day behind us, you can count on seeing more and more media reports about rising foreclosures. We are watching very closely to see if actions will be taken by the government to improve the job market, by removing obstacles that have greatly hindered the private sector from bursting out of the malaise of the past six years.
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Here's why falling home prices is not good news

Signs point to a worse economy
Lynn Effinger
Many economists and housing analysts agree that a rise in interest rates will negatively impact the economy, particularly with respect to the housing sector. This will hardly be good for homebuyers.
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This is why Fannie and Freddie mortgage initiatives won't work

MBA declarations are feel-good, but temporary
Lynn Effinger
Several newsworthy events have occurred over the past several days that would seem to indicate that the housing “recovery” is picking up steam. While that would be welcome news for our country in general and our industry in particular, these reports are tempered by the potential unintended consequences of certain actions either taken or not taken.
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Will HELOCs and nonbank lending contribute to another housing bubble?

This isn't homeowner confidence, it's madness
Lynn Effinger
In most areas of the country an apples-to-apples comparison of home equity increases have not occurred, which could mean the problem is not going to be as bad as before. But the desire to pay off debt, offset lower or even lost wages, or just keep ahead of inflation could cause another credit/housing bubble.
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More signs of a sliding housing market

Affordability has issues, too
Lynn Effinger
Affordability issues; looming interest rate hikes as have been predicted by Federal Reserve Chairman Janet Yellen; too many FHA loans being made (this is the “new” sub-prime market); federal emphasis being placed on low-income borrowers, and other factors are causing house prices to decline once again in many markets.
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Mortgage servicers trend toward multiple field-service providers

Is it time to spread out the grunt work?
Lynn Effinger
With so many changes taking place in the default servicing arena, with heightened focus on regulations and compliance issues, one solution being chosen by some lenders, servicers and investors is to contract with multiple field service providers, rather than a single “national” provider.
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