Things at Ocwen just went from bad to much, much worse

Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news

Pending home sales surge to highest level in 18 months

Buyer demand boosts sales

Foreclosure: The Movie… (finally!) coming to a screen near you

In new film, neighborhood of foreclosed homes drives man insane
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Items Tagged with 'JPMorgan Chase'

ARTICLES

Military members to receive $123 million for unlawful foreclosures

Relief is part of National Mortgage Settlement
Ben Lane
According to the U.S. Department of Justice, Bank of America, JPMorgan Chase, Citi, Wells Fargo and GMAC Mortgage will send payments to 952 service members and their co-borrowers for conducting non-judicial foreclosures conducted in violation of the Servicemembers Civil Relief Act.
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DBRS positive on JPMorgan’s jumbo-ARM mortgage bonds

Offering receives second round of AAA ratings
Ben Lane
DBRS is joining Fitch Ratings in awarding AAA ratings to a massive residential mortgage-backed securitization backed entirely by adjustable-rate mortgages from JPMorgan Chase & Co. The offering is backed by 913 adjustable-rate mortgages with a total balance of $940.1 million.
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JPMorgan settles Bear Stearns’ lawsuit, pays $500 million

Resolves mortgage claims dating back to financial crisis
Brena Swanson
Mega bank JPMorgan Chase settled another lawsuit that goes back to the financial crisis. This time the bank agreed to pay $500 million to settle a mortgage securities suit.
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JPMorgan launching massive ARM-only jumbo RMBS

$940.1 million offering receives AAA ratings
Ben Lane
After exploring various securitzation structures throughout 2014, JPMorgan Chase & Co. is kicking off its 2015 in a big way, prepping a massive residential mortgage-backed securitization backed entirely by adjustable-rate mortgages.
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Nomura fighting back against FHFA toxic mortgage lawsuit

Claims U.S. unit “did nothing wrong”
Ben Lane
Nomura Holdings reportedly does not want to settle with the Federal Housing Finance Agency because it claims that its U.S. unit did not knowingly sell bonds backed by fraudulently originated loans to Fannie Mae and Freddie Mac in the run-up to the crisis.
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CFPB goes after Wells Fargo, JPMorgan for mortgage kickback scheme

Mega banks will pay $35.7 million total
Brena Swanson
The Consumer Financial Protection Bureau has taken action on two of the country's biggest banks: Wells Fargo and JPMorgan Chase. Both banks were investigated for an illegal marketing services kickback scheme they participated in with Genuine Title.
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Mortgage business mixed at the Big Four banks in 4Q

A roundup of how the TBTFs fared in the mortgage space
Trey Garrison
The Big Four banks have reported their fourth quarter and full year earnings, and here’s a look at what happened in their mortgage space.
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JPM posts $23.6B 4Q revenue, missing expectations by $40M

Annual revenue of $97.9B down 2% but with record profit of $21.8B
Trey Garrison
Mortgage activity for JPM improved in the fourth quarter, but quarterly and annual revenues were down while net revenue for the year hit a record $21.8 billion. Here’s how.
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JPMorgan puts another mortgage-bond trader on leave

Latest in string of personnel changes
Brena Swanson
Another JPMorgan Chase mortgage-bond trader was put on leave as more regulators crack down on the industry. JPMorgan continues to cooperate with U.S. agencies amid more regulatory scrutiny.
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Fitch awards AAA ratings to JPMorgan ARM-only jumbo RMBS

$402.8 million RMBS backed by 7/1 ARMs
Ben Lane
J.P. Morgan Mortgage Trust 2014-IVR6 is backed by a pool of 397 loans with an aggregate loan balance of $402.8 million, and all but one of the loans is a seven-year ARM. The remaining loan is a six-year ARM.
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