This is the insane pool/patio video everyone is going crazy over

This is the insane pool/patio video everyone is going crazy over

Never expected our Facebook to blow up over one of these

Freddie Mac: Here are the top 5 improving metro housing markets

Not just L.A. and NYC

It’s official: Steve Horne out as Wingspan CEO

Jason Spooner takes over; Horne becomes senior advisor
W S

Items Tagged with 'Securities and Exchange Commission'

ARTICLES

It's official: Risk retention rule approved

Federal Reserve gives last and final approval
Brena Swanson
The final version of the risk retention rule is now officially approved by six federal agencies, following the Federal Reserve’s final approval on Wednesday. The rule contains an exemption for Qualified Mortgages similar to when the rule was proposed in 2013.
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SEC approves risk retention rule, pending Fed approval

Industry continues to weigh in
Brena Swanson
The Securities and Exchange Commission approved the final version of the risk retention rule that would require banks to retain at least 5% of the risk on their books when securitizing loans. Now all that is left is approval from the Federal Reserve.
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Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers
Ben Lane
Sen. Elizabeth Warren, along with Congressman Elijah Cummings, sent a letter this week to the U.S. Government Accountability Office, requesting an investigation into the risks posed to consumers by the “unprecedented” growth in nonbank mortgage servicing.
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Too many regulators in the kitchen

SEC says firms face lawsuits from multiple agencies
Brena Swanson
As more regulators pile the lawsuits on firms, the chances of overlapping investigations quickly escalates, which could disrupt regulatory probes and lead to unnecessary lawsuits.
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Market shift: HSBC offloads huge REO portfolio to Altisource

Lays off most of REO staff
Brena Swanson
In the latest addition to Altisource Portfolio Solutions, the company is acquiring the servicing rights to HSBC's REO department. The decision is already drawing fire for its cloak-and-dagger execution.
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Moody’s downgrades Ocwen’s servicer ratings

Cites increased regulatory scrutiny and force-placed insurance concerns
Ben Lane
Moody's suggests that the scrutiny from the Securities and Exchange Commission and the New York Department of Financial Services "could restrict Ocwen's activities, levy monetary fines, or take additional actions that could negatively affect the company's financial strength and servicing stability."
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KBRA: More smoke than fire in Ocwen’s restated earnings

Cautions that MSR transactions could see more regulatory scrutiny
Ben Lane
Kroll notes that audit firms, like Deloitte & Touche, advise public companies on how to structure their finances related to GAAP, however “the public company is ultimately responsible for the public disclosure,” which leads to the public company “taking the blame” for what its auditor advised it to do.
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SEC subpoenas Ocwen over Altisource, HLSS associations

Joins NYDFS in questioning company’s relationship with its affiliates
Ben Lane
Ocwen’s close relationship with Altisource Residential, Altisource Asset Management Corp., Altisource Portfolio, and Home Loan Servicing Solutions has been under scrutiny since New York's Department of Financial Services first sent a letter to Ocwen’s general counsel about the dealings between the affiliated companies in February.
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Morgan Stanley finally pays $275 million for subprime RMBS fraud

SEC charged company with misrepresenting loans
Ben Lane
The SEC had charged Morgan Stanley with misrepresenting the delinquency status of mortgage loans underlying two subprime RMBSs at the height of the financial crisis. They were the last subprime RMBSs that Morgan Stanley sponsored, issued, and underwrote.
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SEC investigates Carrington deal with New Century Financial

Brena Swanson
In a flash back to the past, a previous deal between Carrington Holding Company and failed subprime lender New Century Financial is under investigation by the Securities and Exchange Commission.
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