Ocwen had a 24.2 percent error rate on a metric involving the timeliness of force-placed insurance notices, well above the 5.0 percent error rate allowed under the settlement…

After a difficult year so far, sales of mortgage servicing rights are beginning to pick up a head of steam this fall with the hope that the fourth quarter could turn out be a barn-burner. According to interviews conducted by Inside Mortgage Finance this week, servicing advisors for the most part are feeling mildly optimistic about the final three months of the year, although they all admit the obvious: an unexpected drop in rates could spoil the party. But that may not...

Hundreds of industry participants have written to the Consumer Financial Protection Bureau to express their opposition to or support of the bureau’s attempt to resolve some of the ambiguity associated with its Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure Rule. Title insurers say the CFPB missed a chance to fix a major problem: confusion about title premium charges. Real estate agents say the bureau is making things better for consumers by allowing lenders to share disclosures. One title insurance professional noted...

A federal court in Texas has dismissed a disparate-impact lawsuit against the Texas Department of Housing and Community Affairs, finding, after years of litigation, that the plaintiff had failed to show sufficient reason for a charge of unlawful discrimination under the Fair Housing Act. The recent decision in The Inclusive Communities Project, Inc. v. The Texas Department of Housing and Community Affairs, et al., is the latest in a series of decisions applying the landmark U.S. Supreme Court decision that found disparate impact is a cognizable claim under the FHAct. The court’s Aug. 26 decision basically reaffirms...

More legal headaches for Ocwen? Looks that way...

Fair housing groups continue to press allegations that Bank of America has neglected foreclosed homes and created eyesores in African-American and Latino communities in more than 200 cities. The National Fair Housing Alliance, along with nine local fair housing organizations, filed an amended federal complaint against BofA last week. In the complaint they added a number of neighborhoods in six additional cities where investigations revealed foreclosed homes that have not been properly maintained. This brings...

For depositories, the data generally show more overall scrutiny from the CFPB as well…

FBR & Co. raised its estimate on residential loan production for 2016: $1.90 trillion for 2016...

One agent noted: “Consumers around the country continue to receive inaccurate information at the closing table about their title insurance costs...”

Kingstown is known as a value-oriented hedge fund, with roughly $1.5 billion of assets under management.