Ocwen Chairman Erbey resigns as company admits misconduct

Ocwen Chairman Erbey resigns as company admits misconduct

Company to pay $150 million to homeowners

Existing home sales collapse 6.1% in November

Tumble comes amid record low declining rates, prices

Monday Morning Cup of Coffee: Oil’s crash will impact MBS market

Mortgage fraud is still a problem, plus the gift of housing metrics
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Items Tagged with 'Strategic default'

ARTICLES

FHFA watchdog sounds alarm on $4.6B loss

GSE fails to recover losses from strategic defaulters
Christina Mlynski
"I think it reinforces the current nature of mortgage finance policy, which is not to hold borrowers responsible. This isn’t just about Freddie, but it’s also about these borrowers sticking it to the taxpayer," Mark Calabria of the Cato Institute said.
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Strategic defaulters are out of luck in Ireland

One country across the Atlantic is taking a hard-line approach when dealing with strategic defaulters.
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To strategically default or not? That is the question

Kerri Ann Panchuk
The housing crisis brought several new words into the American lexicon, including the oft used phrase "strategic default."But is the strategic default option worth it for...
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Slashed FICO score will not discourage strategic default

Jessica Huseman
In a blog Thursday, FICO detailed the results of a survey on the likelihood of increased strategic defaults. The answer overwhelmingly pointed to the notion that...
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Oklahoma reaches its own foreclosure settlement

Jon Prior
Oklahoma Attorney General Scott Pruitt reached his own settlement with top mortgage servicers.Pruitt was the only AG not to sign the $26 billion multistate deal that...
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More than 40 states to sign foreclosure settlement

Jon Prior
More than 40 states will sign a settlement with the top five mortgage servicers over alleged foreclosure abuses that arose more than one year ago, Iowa...
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The new slap in the face of foreclosure

Kerri Ann Panchuk
Every American upset with the state of mortgage lending should read the Fox Business News article on strategic default in order to meet the "New Face of Foreclosure." Strategic defaulters are underwater borrowers who intend to remedy their "upside-down situation" by simply walking away from their mortgages. The Fox Business article paints a clear picture of a 67-year-old strategic defaulter who is walking away from a $166,000 loan.
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Tracking down strategic defaulters to collect the second lien

Jacob Gaffney
Homeowners who strategically default, that is those who walk away from mortgage obligations despite the ability to pay, are Leo Stawiarski's bread and butter lately.
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Recovering from foreclosure: Prime vs. subprime borrowers and strategic defaults

Linda Lowell
Even though a foreclosure remains on an individual's credit history for seven years, the credit score can recover in as little as two years, but there’s a hitch.
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Who, in the End, Will Strategically Default?

Austin Kilgore and Linda Lowell
Two different research teams look at the question from two different sides. Let’s start with the dark side: the borrowers who ruthlessly put the house back to the servicer. Then we’ll move on to some researchers we don’t hear from often enough, who start by trying to quantify the bright side: the borrowers who won’t drive away from the house. Ruthless Default
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