Lack of basic information and knowledge about the application process and concern about rising interest rates are reasons why most homeowners are reluctant to take out home-equity lines of credit to meet their financial needs, according to a study by mortgage solutions provider Digital Risk. A company survey of 1,038 homeowners found that 21 percent have no clue what a HELOC is, while 45 percent did not even know how to apply for one. Sixty-five percent said they ...
Democrats unsuccessfully pushed amendments that would try to keep President Trump, anyone in his administration or any of his businesses from benefitting from any provision in H.R. 10.
Can the financially troubled and regulator-challenged Ocwen Financial survive? It’s not an unfair question given its most recent travails and this week’s news that it struck a $425.0 million transaction “in principle” to sell some of the cash flows on $117 billion in mostly non-agency servicing rights to New Residential Investment Corp. As the weekend approached, analysts that follow the company were speculating that Ocwen is going through what looks like a controlled liquidation, selling off assets – mostly the cash flow stream on its servicing portfolio – and buying time while it fights regulatory sanctions in 31 states. The company is...
Perhaps the new Treasury secretary finally looked at the numbers, realizing that Fannie and Freddie – wards of the government since September 2008 – forked over roughly $20 billion to Uncle Sam…
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