Things at Ocwen just went from bad to much, much worse

Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news

Pending home sales surge to highest level in 18 months

Buyer demand boosts sales

Foreclosure: The Movie… (finally!) coming to a screen near you

In new film, neighborhood of foreclosed homes drives man insane
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Articles by Ben Lane

BNY Mellon and Amherst form new real estate credit company

Amherst Capital Management will focus on “direct lending opportunities”
Ben Lane
Bank of New York Mellon is partnering with Amherst Holdings to launch a new company that will focus on real estate credit management. According to the companies, BNY Mellon and Texas Treasury Safekeeping Trust Company have made “significant capital commitments” to the new company.
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Mortgage Bankers Association adds 31 new members

See who joined the MBA in January
Ben Lane
The Mortgage Bankers Association announced that it welcomed 31 new members into its ranks in the month of January.
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Problem with your Zestimate? You can now immediately change it

Zillow cuts Zestimate update time from weeks to minutes
Ben Lane
One of the main issues that many Zillow users had with the website was the time it took to update a Zestimate, the property value estimation tool built into every listing on Zillow. Now, instead of it taking weeks to update a Zestimate, Zillow will allow users to update a Zestimate immediately.
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Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news
Ben Lane
Just when it looked Ocwen Financial may finally be getting some good news, the nonbank was hit with an avalanche of bad news. A new report from Compass Point says that Ocwen was just terminated as servicer on two RMBS deals, and worst of all, Ocwen now stands accused of costing mortgage bond investors $26 billion.
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Meet the bullies ripping off Realtors

NAR executives testify before Congress on patent troll fight
Ben Lane
Realtors, real estate agents and brokers are fighting a constant battle against people and companies who are trying to rip them off, and they’re not going to take it anymore, executives from the National Association of Realtors told a House subcommittee on Thursday.
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Stonegate just grew warehouse lending by 888%

No, that’s not a typo
Ben Lane
Stonegate Mortgage Corporation reported an incredible 888% year-over-year increase in its warehouse lending in the fourth quarter, rising from $47.8 million in 2013 to $472.4 million in 2014. But it still wasn't enough to help Stonegate turn a profit in 2014.
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Foreclosure: The Movie… (finally!) coming to a screen near you

In new film, neighborhood of foreclosed homes drives man insane
Ben Lane
You can say a lot of things about the foreclosure crisis, but you can’t say that moving into a neighborhood destroyed by foreclosures could drive a man insane after he falls victim to ancient curses while living a haunted house. Until now!
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Capstone demands Altisource family divorce

Calls for Altisource Residential to terminate Altisource Asset Management agreement
Ben Lane
Over the last few months, Ocwen, Altisource Portfolio Solutions and Home Loan Servicing Solutions bore the brunt of the regulatory and investor scrutiny — Altisource Residential and Altisource Asset Management escaped mostly unscathed. But now, Altisource Residential is the target of an investor who’s demanding an Altisource family divorce.
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Georgia MLS to send listings directly to Zillow

Becomes latest member of Zillow Partnership Platform
Ben Lane
While the Zillow Group may be embroiled in a legal battle with Move over Move-owned ListHub’s decision to terminate its listing agreement with Trulia, that hasn’t stopped Zillow from working to reach agreements with multiple listing services to provide listing data directly to Zillow. The latest to reach such an agreement is the Georgia Multiple Listing Service.
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FirstKey prepping second jumbo mortgage securitization

Features "single layer of protection" against breaches of reps and warrants
Ben Lane
After bringing its first prime jumbo mortgage securitization to market in November, FirstKey Mortgage is back with its second such offering. Its second securitization features a total principal balance of $293 million on 407 loans. The loans carry an average unpaid balance of $719,941.
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