California May Suspend Ocwen’s Mortgage License, Stock Plunges January 13, 2015 Paul Muolo Sources believe that Ocwen eventually will work out a settlement with the state.Read More
Ocwen’s Exit from Agency Servicing Could be a Very Long Goodbye January 13, 2015 Paul Muolo Meanwhile, new revelations about regulatory problems in California are likely to make Ocwen’s disposal of servicing rights problematic.Read More
When It Comes to Mortgage Shopping, It Appears That Consumers are Lazy January 13, 2015 Thomas Ressler The CFPB found that 70 percent of mortgage customers rely on their lender or broker to obtain loan pricing information.Read More
Strong Opposition to FHFA Proposals on FHLB Membership January 13, 2015 Brandon Ivey The Council of Federal Home Loan Banks said the FHFA has shown “no compelling need” for the proposed changes to membership standards. Read More
California Cites Document Request Delays at Ocwen, May Suspend the Lender/Servicer January 13, 2015 Paul Muolo For short sellers, Ocwen Financial is the gift that keeps on giving. Read More
Home Equity Lending Expected to Increase January 13, 2015 Brandon Ivey The two top banks increased their HEL holdings from midyear, and industry analysts expect home-equity lending to continue to increase in 2015.Read More
Short Takes: JPM Touts Correspondent Channel / CFPB Chief Cordray Says the Sky Did Not Fall / What? / Supreme Court Deals Blow to RBS, Nomura January 13, 2015 Paul Muolo and Thomas Ressler Despite Cordray's proclamation, loan production fell by 35 percent last year, but all that was tied to refis plunging. Right?...Read More
Cove Financial, a Lender Operated by Former New Century Officials, Goes Bust January 12, 2015 Brandon Ivey Patrick Flanagan, Cove’s CEO, was once the president of New Century Mortgage, a now-defunct subprime giantRead More
FHA Sets Lower FHA Premium Date: January 26 January 12, 2015 George Brooks FHA lenders may start requesting case number cancellations on Jan. 15, but must submit all requests before midnight on Feb. 26.Read More
Short Takes: Five Oaks Cuts New Repo Deal with BofA / Ocwen’s ‘Clean-up’ Calls / More Intel on Never Meeting the Customer / We Like Our Debt Just the Way It Is January 12, 2015 Paul Muolo “I only saw about 5 percent of my buyers face-to-face last year,” said one Texas-based loan officer. Read More
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