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

Items Tagged with 'Mortgage'


REO agents and brokers deserve to be paid more

The paperwork alone can be mind-boggling
Lynn Effinger
Without necessarily intending to, I am going through this process currently as it relates to REO management, marketing and disposition. And it is an eye-opening process, indeed, even for this longtime veteran of this industry.
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Stop panicking about recent foreclosure numbers

The sky is not falling
Rick Sharga
So, are we about to see housing Armageddon? Do these ominous increases in foreclosure activity mean that the market is about to implode? No. Not even close. Allow me to explain.
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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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loanDepot to acquire Mortgage Master

Nonbanks grow market share
Brena Swanson
Nonbank consumer lender loanDepot announced it will acquire Mortgage Master. In October 2014, the two companies had a combined retail loan funding volume of $1.75 billion, with nearly $70 million in top-line revenue. Combined, the two companies deploy more than 1,200 licensed loan officers nationally, helping to fill the void left behind as big banks continue to reduce mortgage market share.
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Fannie Mae: Consumer confidence in housing hits "all-time high"

A better balance of supply and demand
Ben Lane
“The narrowing gap between home buying and home selling sentiment may foreshadow increased housing inventory levels and a better balance of housing supply and demand,” Doug Duncan, senior vice president and chief economist at Fannie Mae said. “These results may help drive a healthier housing market in 2015.”
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Zillow: Mortgage rates spike as QE3 ends, but remain below 4%

End of QE3 sends shockwaves
Current rate borrowers were quoted an average interest rate of 3.9% on Zillow’s Mortgage Marketplace in the week that ended Tuesday. When the QE3 officially ended last Wednesday, the 30-year FRM interest rate shot up, peaking at 4.15% on Thursday before settling back down to 3.9%.
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PennyMac’s mortgage lending business witnesses strong 3Q

Net income rises 8%
Brena Swanson
It was a strong quarter for PennyMac Financial Services, posting strong growth momentum in its mortgage banking businesses, including consumer direct lending, which is making increasing contributions to its production revenue.
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A strategy for lenders, servicers and investors following Nevada’s court decision
Jason Tufaro
Lenders trying to foreclose on properties that have HOA assessment liens face a number of pitfalls, and a recent decision by the Nevada supreme court looks to make it worse, not better, for lenders, servicers and investors.
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Zillow: Millions of potential houses lost to "doubling up"

But there is a silver lining
Brena Swanson
“The rise in doubled-up households is a troubling sign of the times and starkly illustrates one of the prime drivers behind weak home sales these days,” said Zillow Chief Economist Stan Humphries. But there is a silver lining behind the data.
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Freddie Mac: Homeowner demand for home equity loans doubles

Refinance volume falls sharply
Brena Swanson
"While the share of borrowers that cashed-out some equity has increased considerably over the past year, the refinance volume has also fallen sharply," said Frank Nothaft, Freddie Mac vice president and chief economist.
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