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  • Ocwen cleared of wrongdoing in multi-billion dollar mortgage bond fight

    Early in 2015, a group of mortgage bond investors that reportedly included BlackRock, MetLife, and Pimco accused Ocwen Financial of violating its duties as a mortgage servicer by failing to properly collect payments on $82 billion of home loans thereby costing the investors $26 billion. Now, after a yearlong independent investigation found no evidence of the litany of allegations made by the investors, Ocwen is off the hook. Click the headline for the whole story.

Items Tagged with 'MBA'

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MBA: Mortgage applications post another tepid week

Average loan size for purchase apps hits survey high
Despite the current low-mortgage rate environment, mortgage applications once again recorded a slow weak. However, one notable data point in this week’s survey is that the average loan size for purchase applications reached a survey high.
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MBA: 30-year mortgage rate predicted to hover around 4%

Refinance applications salvage mortgage lending
Get used to low mortgage rates because they are not expected to go away anytime soon. Mike Fratantoni, chief economist for the Mortgage Bankers Association, in a press conference at the MBA Secondary conference in New York City, gave insight on how the MBA expects the mortgage market to look moving forward.
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MBA: Foreclosure starts lowest in 16 years

Judicial states worse off
The nation continues to see foreclosure rates decline to lows not seen since 2000 or 2007. But there's still some ground to make up, especially in judicial states, which could be holding the market back from recovery. Here’s why.
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MBA: Mortgage applications barely move

Another quiet week for apps
It's another quiet week for mortgage applications despite it being peak-buying season, reiterating other industry reports that spring isn't booming. Here's the latest update on just how quiet it is for the mortgage market.
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CFPB: Changes to TRID coming soon

Bureau responds to industry trade group concerns
Top industry groups banded together to get the CFPB to reopen talk around the rule, and it worked. The CFPB started drafting a Notice of Proposed Rulemaking on the Know Before You Owe rule. And it's probably coming faster than you think.
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MBA: Mortgage applications reverse course

Decline amidst spring home-buying season
It was a slow week for mortgage applications despite it being peak buying season, with applications moving further away from the highs witnessed two weeks ago. Here’s where applications fell short.
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