Items Tagged with 'California'

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Ocwen reaches $223 million settlement with California over servicing violations

Mortgage servicing restrictions lifted, can now acquire California MSRs
Ocwen Financial announced late Friday that it reached a $223 million settlement with the California Department of Business Oversight, ridding itself of the restrictions that hampered its mortgage business in California for more than two years. The settlement includes a cash payment of $25 million. Ocwen is also required to provide an additional $198 million in debt forgiveness.
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Realtors pick their top 10 hottest housing markets for 2017

This is where homes fly off the market
While January is typically the slowest month of the year for real estate, the market remained strong at the start of 2017. Homes flew off the market faster than the previous year at home prices that were 10% higher than the previous year. Here are the top 10 markets for the start of the new year.
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Xavier Becerra officially named California attorney general

Holds state’s second-most-powerful appointed position
Now that Kamala Harris is getting settled in her new role in the U.S. Senate, California officially announced Rep. Xavier Becerra as her replacement, approving him as the state’s new attorney general. Becerra comes to the position during a time of major political divide, and the state is looking to him to make sure California is ready for a fight.
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California real estate agent arrested for double homicide

Christopher Ireland taken into custody "on suspicion of murder"
A California real estate agent is under arrest and remains in custody under suspicion that he committed a double murder. According to local media reports, Christopher Ireland is suspected in the deaths of two of his wife’s female co-workers, whose bodies were found after a suspicious fire destroyed the home of one of the women.
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California hires Eric Holder to fight back against future Trump troubles

$25,000 per month for three months
California is readying itself to come face-to-face with President-elect Donald Trump in court in order to preserve the policies and diversity of The Golden State. And due to the uncertainty of future conflicts, California took precautionary measures on Wednesday and announced it hired former U.S. Attorney General Eric Holder.
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House flipping is back…in California, at least

Wall Street Journal reports on return of flippers
House flipping, which served as one of the canaries in the coal mine before the house collapse, is apparently back on the map, in California, at least. In the words of one flipper, “the floodgates have opened” when it comes to finding financing for flipping.
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Billionaire to build micro-apartments for the homeless

Plan in place for 200 units in Santa Clara
A billionaire real estate developer in California is now looking into an apartment housing project for the homeless and low-income population. The complex will consist of micro-apartments no more than 240 square feet, but the plan is still facing some opposition.
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Did Wells Fargo fake accounts extend to Prudential insurance?

Investigation launched after whistleblower lawsuit filed
Investigators in California and New Jersey are set to launch a probe into Wells Fargo over whether the bank’s recent fake account scandal extended beyond credit cards and bank accounts. The investigations come on the heels of whistleblower lawsuit filed by three former Prudential Insurance employees, who accused Wells Fargo of opening up insurance policies and automatically deducting the insurance premiums from customers’ accounts without prior authorization.
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Bay Area suddenly heats up again

Home sales increase by 10% in November
After California’s recent cool-down in home sales, the Bay Area is heating up once again with increases in home sales during November. But is this a temporary post-election spike, or a new housing trend?
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