In the Money

Ocwen settlement-palooza sees $36 million going out, $30 million coming back in

Reaches settlement with CIT Bank, additional settlement on restated financials
It’s been a year of settlements for Ocwen Financial and Monday saw more of the same. On Monday, Ocwen disclosed that it reached an additional settlement with investors related to the company’s previously restated earnings, and a settlement with CIT Bank over a 2013 mortgage servicing rights deal.
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Republican lawmakers move to slash CFPB employees' pay

Sen. Mike Enzi, Rep. Sean Duffy introduce bill to cut CFPB compensation
One of Mick Mulvaney’s first actions after he took over as acting director of the Consumer Financial Protection Bureau was to institute a hiring freeze, stipulating that the bureau could not hire any new employees for at least 30 days. But if two of Mulvaney’s former Congressional colleagues have their way, the CFPB’s current employees could be left feeling a freeze of their own – vastly reduced salaries.
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Altisource Residential boosts single-family rental portfolio with $305.1M deal with Amherst

Acquisition of 1,957 homes pushes total portfolio to more than 12,000
Earlier this year, Altisource Residential grew its portfolio of single-family rental homes to more than 10,000, thanks to the second part of a three-part deal with Amherst Holdings. Now, the two companies have completed the third part of that agreement, with a $305.1 million deal that pushes Altisource's portfolio to more than 12,000 properties.
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Senate may vote on tax reform as soon as this week

Will the MID stay or go?
Tax reform is an important, priority issue put forward by the Trump administration. Given that, a vote on a new tax plan could be coming in the Senate soon. Will the mortgage interest deduction stay as is or go down a new road? We may know sooner than later.
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