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
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Items Tagged with 'New York'

ARTICLES

S&P/Experian: Mortgage default rates increase two months straight

Rates hits .93%
Brena Swanson
“Default rates for bank cards reversed an increase seen in the first half of 2014 while defaults on first mortgages and auto loans appear to have bottomed out over the summer,” says David Blitzer, managing director and chairman of the index committee for S&P Dow Jones Indices.
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Here are the 14 most outrageously expensive neighborhoods for renters

Markets where you'll spend more than half your income on living
Brena Swanson
Owning a home is becoming more affordable, while renting is becoming more expensive than ever, especially in these 14 neighborhoods.
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New York’s foreclosure backlog isn’t going away until 2016, at least

Prospects slightly better in New Jersey
Ben Lane
"In New York, the recent private-label RMBS foreclosure backlog of 38,213 loans could be cleared in approximately 5.7 years using the last 12 months’ average exit rate of 1,684 loans and in approximately 2.4 years using the 2008-10 average rate of 4,059 loans," Moody’s Investors Service said in a new report.
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Lawsky’s latest target: Hard-money lenders

NYDFS subpoenas nine companies over concerns of predatory lending
Ben Lane
The NYDFS said that hard-money lenders do not typically evaluate a borrower’s ability to repay and likelihood of default, and it has concerns that some lenders may “intentionally structure loans with the expectation of foreclosing on and taking possession of the property."
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S&P/Experian: Mortgage default rates increasing

After falling for almost a year
Brena Swanson
Consumer default rates rose in August, reversing a long downward trend. However, according to David Blitzer, with the S&P Dow Jones Indices, "No return to the extreme default experience of a few years ago is imminent."
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The best and worst state economies

Where should you be doing business?
Brena Swanson
The overall forecast for the future of housing isn't too bright, but there are plenty of hot spots when you break it down state by state.
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Here are the states with the priciest homes for sale

Most expensive home goes for $69M
Brena Swanson

For the well off and affluent, the housing market is still going strong, and lenders are quickly jumping on board to make sure they have the financing that they need. Here are the states with the priciest homes for sale, including the most expensive in the nation.


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Californians most likely to move to...

Trulia: People migrate for jobs, lower density, housing
Brena Swanson
More people are moving away from the major cities of New York and Chicago, opting for a completely opposite region. Trulia outlined the top five between-metro moves over 500 miles.
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Beige Book: A housing market divided in improvement

Residential real estate activity varies across the board
Brena Swanson
The twelve Federal Reserve Districts weighed in on how their individual markets are doing, painting different housing market conditions. Residential real estate activity was split between them, with sales of existing homes and construction of new homes generally expanding or holding steady in about half of the districts.
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State of New York accuses Evans Bank of redlining

Bank allegedly drew map which excluded African-Americans
Ben Lane
According to the suit filed on behalf of the People of the State of New York by New York Attorney General Eric Schneiderman, Evans Bank allegedly created a map of its “lending area,” which included most of the city of Buffalo, but excluded the predominately African-American neighborhoods on Buffalo’s Eastside.
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