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 Jacob Gaffney

RealScout raises $6 million for superior real estate searches

Hopes to take market share from Zillow, Trulia
Jacob Gaffney
Most big real estate web portals are consumer-friendly, but are they service-oriented? One startup out of San Francisco says not enough so, and they think they have the solution for those who are more into the latter business model when it comes to buying a home.
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4 reasons mortgage insurers support low down payment home loans

It just makes more sense
Jacob Gaffney
Firefighters and teachers could take decades to save up a 20% down payment, presumably renting in the interim. C'mon, what is this, Europe? These people need HOMES.
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Freddie Mac CEO: We’re studying alternatives to FICO

This, and 3 other exciting developments
Jacob Gaffney
One quote from Donald Layton's third quarter earnings call arouses curiosity. Layton said Freddie Mac was “upgrading critical infrastructure.” Here's what that means and why these changes are so critical.
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WATCH: Trulia stages haunted house for unsuspecting homebuyers

'Tis the season. For screaming.
Jacob Gaffney
Trulia proves that when it comes to real estate, it's what's inside that counts. Here's the video of Trulia scaring a bunch of poor, innocent people who just want a better place to live.
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Fannie Mae will buy 97% LTV mortgages

Credit improvements lead to mortgage product
Jacob Gaffney
Fannie Mae CEO Timothy Mayopoulos said the government-sponsored enterprise will soon begin offering a 97% loan-to-value mortgage. Speaking at the Mortgage Bankers Association annual convention & expo, Mayopoulous said the government-sponsored enterprise is working “closely” with the FHFA to offer this product to all Fannie associates.
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Freddie Mac CEO: We will help increase mortgage lending

Competition among two is still competition
Jacob Gaffney
The CEO from the government-sponsored enterprise, Freddie Mac, said that his firm is increasingly becoming more competitive in the mortgage market and will look to see how its "credit box could be more fully utilized.”
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5 things you absolutely need for the MBA convention in Las Vegas

Every one of these is totally necessary
Jacob Gaffney
Here are the 5 things you absolutely need for the MBA, and heck, for other conventions as well, in order of least necessary, to “you will probably die if you do not do this” order of importance.
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Fannie Mae: 4 ways new regulation deeply impacts mortgage lending

Here's why new mortgages are so hard to come by
Jacob Gaffney
The Consumer Financial Protection Bureau is not alone in passing new rules, as we all know. The Federal Reserve and the Federal Deposit Insurance Corp. also have new rules, for example. And now it's just a fact; these rules stymie mortgage lending in four distinct ways.
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Fannie Mae: America’s attitude toward housing rebounds

Is it too late to save housing this year?
Jacob Gaffney
Reversing a two-month trend where the average American is down on his or her housing prospects, the latest Fannie Mae housing survey shows this attitude markedly changed in the last month.
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Radian: Mortgage delinquencies dropping

Book of new business increases
Jacob Gaffney
The news comes as no surprise as Monday Morning Cup of Coffee notes a Bank of America Merrill Lynch report finds business at the Federal Housing Administration, the government-backed mortgage insurance provider, is collapsing for various reasons.
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