Mortgage technology will be ready to address TRID

Mortgage technology will be ready to address TRID

Won’t magically make challenges and cost of compliance disappear

Mortgage industry embraces new CFPB mortgage toolkit

Know Before You Owe gets qualified stamp of approval

Did little-known Arizona law start the appraiser death clock?

Gov. Ducey inadvertently hands a victory to AMCs
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Articles by Ben Lane

Quicken Loans selling credit-monitoring company Quizzle to Bankrate

Sale marks first time Quicken sells self-built company
Ben Lane
In a first for the company, Quicken Loans is set to sell off a self-conceived and self-built company. The company announced Wednesday that it agreed to sell Quizzle, the national credit monitoring site which began in 2008 as a project of Quicken Loans’ marketing team, to Bankrate.
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Silver Bay finalizes $252.2 million rental home acquisition

Adds 2,373 single-family properties to portfolio
Ben Lane
Silver Bay Realty Trust announced the completion of the previously announced acquisition of more than 2,000 rental homes from The American Home. When Silver Bay first announced the transaction in February it called the deal a “transformational milestone” for the real estate investment trust.
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Radian completes sale of Radian Asset to Assured Guaranty

Total purchase price was $804.5 million
Ben Lane
According to Assured Guaranty, the final purchase price for Radian Asset was $804.5 million, paid in cash. According to Radian, its net proceeds on the deal were $789 million, due to transaction-related expenses.
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Multi-borrower single-family rental securitizations officially arrive

FirstKey Lending and B2R Mortgage both offering new asset class
Ben Lane
It appears that a new asset class is quickly developing, borne out of the single-family rental asset class, which itself is less than two years old. Multi-borrower single-family rental securitizations are here.
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Altisource Residential moves to pull more mortgage servicing from Ocwen

Company discusses 2015 plans in call with investors
Ben Lane
Citing a desire to decrease its reliance on a single servicer and diversify its risk, Altisource Residential revealed plans to significantly decrease its commitment to Ocwen Financial in 2015. What does it mean for the future of Ocwen?
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From HW Magazine

Ocwen's terrible, horrible, no good, very bad year

How 2014 rocked Ocwen Financial to its core
Ben Lane
“The existence and pervasiveness of these issues raise critical questions about Ocwen’s ability to perform its core function of servicing loans.” Lawsky said in the letter that in light of these serious issues and the likelihood that thousands of new, inaccurate records are created with each passing day, Ocwen has not approached this problem with the urgency it demands.
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Altisource Residential announces new management agreement with AAMC

Will result in “substantial management fee savings”
Ben Lane
Altisource Residential and Altisource Asset Management Corporation have a complicated relationship and that complicated relationship isn't going anywhere, anytime soon, thanks to a modified asset management agreement, which the companies say will result in "substantial management fee savings."
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JPMorgan’s Dimon to Sen. Warren: Hit me with a fine. We can afford it

New afterword from Warren’s book reveals tense exchange
Ben Lane
It’s probably safe to say that of all the elected officials that walk the halls on Capitol Hill, Sen. Elizabeth Warren isn’t Wall Street’s favorite, but a newly released excerpt from Warren’s book “A Fighting Chance,” shows just how tense her interactions with Wall Street’s bigwigs can be.
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Wintrust Bank to acquire North Bank

Chicago-based bank purchased for $17 million
Ben Lane
The purchase price of $17 million is “subject to possible adjustment,” Wintrust said, and will be paid in cash in exchange for all outstanding shares of North Bank's common stock.
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HUD returns control of Detroit Housing Commission

DHC was in federal receivership for nearly 10 years
Ben Lane
Citing "consistent accountability and progress," the U.S. Department of Housing and Urban Development is finally handing control of the Detroit Housing Commission back to local authorities, after nearly 10 years of federal control.
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