Ocwen Chairman Erbey resigns as company admits misconduct

Ocwen Chairman Erbey resigns as company admits misconduct

Company to pay $150 million to homeowners

Existing home sales collapse 6.1% in November

Tumble comes amid record low declining rates, prices

Monday Morning Cup of Coffee: Oil’s crash will impact MBS market

Mortgage fraud is still a problem, plus the gift of housing metrics
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Items Tagged with 'HELOC'

ARTICLES

More homeowners using HELOCs to increase home value

Consumers regain confidence in America’s economy
Brena Swanson
Gone are the days of people irresponsibly using home equity lines of credit on superfluous items. Instead, a new report shows that the uptick in HELOC demand correlates to increased home value.
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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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7 recommendations for CFPB to improve HMDA

Better measurements needed for home loans, mods, affordable housing
Trey Garrison
More than 40 California organizations join with the California Reinvestment Coalition in calling on the Consumer Financial Protection Bureau to strengthen the Home Mortgage Disclosure Act through greater transparency.
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Not all lenders think HELOCs are the next bubble

Rates set to reset, HELOC demand on the rise
Brena Swanson
As the wave of resets for home equity lines of credit continues to rise, many homeowners are left with higher monthly mortgage payments. But the industry is divided on the past and future problems that come with HELOCs.
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Credit nation? HELOCs up 20.6% year-over-year

Highest level of home equity loans since June 2009
Trey Garrison
A total of 797,865 home equity lines of credit were originated nationwide, up 20.6% from a year ago and the highest level since the 12 months ending June 2009, according to RealtyTrac.
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Are HELOCs the next big home credit product?

Borrower and investor demand rising
Brena Swanson
With the housing market recovering and home prices steadily increasing, one mortgage product is looking more and more appealing to borrowers. And the demand might not stop there, with investors hoping to jump on the bandwagon too.
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Regulators caution on potential home equity loan defaults

Brena Swanson
U.S. regulators warned banks to work with clients to avoid defaults on hundreds of billions of dollars of home equity lines of credit taken out during the financial crisis that will be due soon.
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Is the HELOC-backed RMBS coming back?

Banks looking for new ways to offer HELOC securitizations
Ben Lane
According to a Reuters report from earlier this month, originators are working to determine if HELOC securitizations are viable in today’s market.
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Wells Fargo redesigns HELOCs to save borrowers

Brena Swanson
Switching things up quite a bit, Wells Fargo announced it is revamping how it provides home equity lines of credit in an effort to prevent future payment shock issues.
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Americans ready to spend money...especially on housing

32% of people looking to buy a home in the next two years
Brena Swanson
Americans are becoming more optimistic about buying a home, with 67% of people saying they plan on purchasing a home, and of that amount, 32% are looking to buy within the next two years.
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