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Redfin: Fewer Bidding Wars for Homes in 2014

December 23, 2014
Sherry Muolo
Redfin noted that fewer homes sold in under two weeks this year.
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The Ocwen Stock Carnage: Investors Lost $1.13 Billion in Just One Day

December 23, 2014
Paul Muolo
Meanwhile, stock analysts who were once bullish on Ocwen are now taking out their knives, downgrading or slamming the once high-flying company.
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Short Takes: Impac and CashCall? / MBA on a Membership Roll / Bill Erbey Reflects / Bill Erbey, the Sacrificial Lamb? / The First-Ever Merger of Two Housing GSEs

December 23, 2014
Brandon Ivey and Paul Muolo
Associates of Erbey told IMFnews that he knew several weeks ago that he would be stepping down from the company and viewed himself as a sacrificial lamb of sorts…
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Ocwen Settles with NYDFS for $150 Million; Erbey Out as Exec Chairman; Is Faris Next?

December 22, 2014
Paul Muolo
But Erbey's resignation may not be enough for analysts and investors who have seen the value of Ocwen’s stock plummet the past year.
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Interest-Only Originations Are Down but Not Entirely Out

December 22, 2014
Brandon Ivey
PHH Mortgage was the top-ranked IO lender, with $9.51 billion in such originations through three quarters in 2014.
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Lenders Reverse Plans to Videotape ATR Compliance, Though One is Recording Audio

December 22, 2014
Brandon Ivey
Lenders that have considered taping their interactions with borrowers said the recordings can help prevent “he said/she said” situations.
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Warehouse Commitments Relatively Flat but Outstandings Start to Rise

December 22, 2014
Paul Muolo
At First Tennessee Bank, for example, its commitments were flat from the second to the third quarter, but average outstandings increased by 13 percent to $861 million.
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Single-Family Rental Investors Sitting on Large Gains: RealtyTrac

December 22, 2014
Sherry Muolo
The nascent single family rental industry is at a crossroads in terms of future growth and long-term staying power...
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An Ocwen Massacre: Stock Crushed, Firm Cannot Buy MSRs Without Regulatory Approval, Erbey Out at Several Ocwen-Related Companies

December 22, 2014
Paul Muolo
One analyst, Farukh Farooqi of Marquis Research, told IMFnews that Ocwen’s board should consider dumping CEO Ron Faris. “I mean where does the buck stop?” Farooqi said.
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Short Takes: Thanks to Ocwen, Most Mortgage Stocks Suffer / ASPS Hammered Too / Skyline Reveals Investors / DBRS Sold / FHFA Worries About Lien Priorities

December 22, 2014
Brandon Ivey and Paul Muolo
Skyline said it raised $18 million in equity and debt from Ellington along with Upfront Ventures and Dallas Capital Management.
Read More
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