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 'California'

ARTICLES

Mark Zuckerberg: Victim of real estate developer’s extortion scheme?

Facebook billionaire wants more privacy around his house
Ben Lane
According to Mark Zuckerberg, who made his billions by starting Facebook, he is the target of an extortion scheme perpetrated by a real estate developer who owns the rights to land around Zuckerberg's California home. There will be lawyers.
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Lender Privlo expands into California

Caters to small business owners, entrepreneurs
Brena Swanson
Privlo announced its launch into California to cater to the state’s growing self-employed workforce. The lender plans to expand into 21 states by the end of the year.
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San Francisco controller cautions against eminent domain

Discourages lawmakers from use
Brena Swanson
Talks about eminent domain are still lingering in California. This time San Francisco stepped in, discouraging lawmakers from using the tool to help homeowners.
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Moody’s: Ocwen’s California settlement won’t hurt RMBS investors

But it’s not all sunshine and roses either
Ben Lane
For investors in RMBS that contain Ocwen-serviced loans, the impact of the California settlement will be felt, but nowhere nearly as deeply as if Ocwen’s punishment was more severe. But that doesn't mean that the impact of the settlement is minimal either.
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California settlement puts Ocwen on a leash

Prohibited from acquiring California MSRs without state’s approval
Ben Lane
It appears that the threat by the State of California to suspend the mortgage license of Ocwen Financial is over, at least for now. The beleaguered nonbank confirmed that it settled with the California Department of Business Oversight, which was threatening to suspend Ocwen’s mortgage license.
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Here are the hottest neighborhoods for 2015

This year it’s all about affordability
Brena Swanson
This year, buyers are finally shifting away from urban and expensive homes. Instead, it’s all about affordability, and this new list from Redfin found the best of both worlds — the most affordable and convenient neighborhoods for 2015.
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Will 2015 be better for California’s housing market?

Number of underwater borrowers shrinks 28.5% for the year
Brena Swanson
Now that California is past last year’s tepid housing market, it should fare better in 2015, thanks to mortgage interest rates trending lower and loosening mortgage standards.
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Barclays: California situation could destroy Ocwen

Potential settlement could permanently cripple nonbank
Ben Lane
In a note to clients, Barclays analysts suggest that Ocwen may be facing a New York-esque problem in California and wonder if this is the beginning of the end for the troubled nonbank.
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Ocwen stock eviscerated by threat of California license suspension

Beleaguered company says it’s cooperating with California
Ben Lane
To say that Ocwen Financial took a beating on Wall Street Tuesday would be the understatement of the century. The company suffered a loss of more than $550 million in value after news that the state of California was seeking to suspend its mortgage license.
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California threatens to suspend Ocwen’s mortgage license

Fails to comply with state laws
Brena Swanson
It's not just New York that's looking to punish Ocwen Financial for its business practices. Now, the entire state of California is coming after Ocwen, too. And if it succeeds, it would be a massive blow to the nonbank servicer's portfolio of loans.
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