FHFA leaving g-fees alone, revising primary mortgage insurance requirements

FHFA leaving g-fees alone, revising primary mortgage insurance requirements

Move will lower fees for riskier borrowers; change is ‘revenue neutral’

Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics

Groups cite Ocwen as leader in preventing mortgage defaults

Court filing reveals name of anonymous whistleblower in Zillow/Move lawsuit

Former Zillow VP of Strategic Partnerships wrote the letter
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Items Tagged with 'mortgage servicing'

ARTICLES

Ocwen announces amendment to its senior secured term loan

Extends deadline for delivery of audited financial statements to May 29, 2015
Ben Lane
Ocwen Financial announced late Friday that it entered into an amendment on its senior secured term loan that will go into effect on Monday, April 20. According to Ocwen, the amendment “removes, with respect to the 2014 fiscal year, the requirement that Ocwen’s financial statements and the related audit report must be unqualified as to going concern.”
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Green Tree earns top marks in Fannie Mae mortgage servicer ratings

Awarded a superior five STAR designation
Ben Lane
Green Tree Servicing announced Friday that it received a superior five STAR designation as part of Fannie Mae’s Servicer Total Achievement and Rewards program for 2014. Green Tree also said that 2014 is the third consecutive year the company has earned the top performer distinction within its STAR peer group.
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Mass. Appeals Court rules for MERS in mortgage assignment

Latest in a string of court victories
Trey Garrison
The Appeals Court of Massachusetts found in favor of Mortgage Electronic Registration System, Inc. and upheld the validity of its assignment of a mortgage.
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Wells Fargo breached national mortgage settlement

Judge finds bank did not properly evaluate homeowners
Trey Garrison
A federal judge has found that Wells Fargo breached a nationwide 2010 legal settlement involving adjustable-payment mortgages, finding that the bank did not properly judge and evaluate borrowers who applied for help to avoid foreclosures.
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Altisource Residential slammed with two class action lawsuits

Investors allege failure to fully disclose risks, conflicts of interest
Trey Garrison
Investors are gathering to launch two salvos at Altisource Residential in the form of class action lawsuits that allege the beleaguered Ocwen affiliate failed to disclose the kinds of risks and losses it to which it was exposing shareholders.
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CoreLogic: Foreclosure inventory down 27.3% since February 2014

Total now down 67% from peak in 2010
Trey Garrison
Foreclosures and delinquencies are way down from last year and from their peaks right after the housing crash. Fewer opportunities for investors, but what does it mean for the economy as a whole?
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HSBC, Assurant offer $1.8M to end force placed kickback lawsuit

More than 11,000 steered to overpriced policies in return for commission
Trey Garrison
Homeowners sued HSBC and Assurant for steering them into unneeded and expensive policies in return for kickbacks. Now HSBC and Assurant are offering $1.8 million to make it go away.
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Trouble ahead: Tidal wave of HELOC resets about to hit

Bubble borrowers about to see payments spike
Trey Garrison
Home equity lines of credit taken during the big housing bubble just before the crash may result in a dramatic spike in payments for millions of homeowners with HELOCs. Will it upset a fragile economic recovery?
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Lawsuit: Ocwen sent false reports to consumer credit agencies

Homeowner wants court to revive suit alleging servicer violated consumer law
Trey Garrison
A homeowner in California is asking the Ninth Circuit to revive his putative class action lawsuit against Ocwen Loan Servicing for submitting false information to credit agencies. Judges seemed skeptical, suggesting Ocwen technically stayed in the confines of the law. You decide.
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Ninth Circuit Appellate Court upholds MERS ruling

MERS didn’t lose status as agent of promissory note holder
Trey Garrison
The Ninth Circuit Court of Appeals affirmed the district court’s judgment dismissing the borrower’s wrongful foreclosure claim against MERSCORP Holdings, the latest in an ongoing string of victories for the company. Here’s what happened.
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