While mostly associated with investors, a fair share of current homeowners rely on cash for home purchases as a way to avoid the hassles associated with mortgage closings.
The Dodd-Frank Act prompted major changes for mortgage joint ventures, with some firms striking out on their own and others sticking with the smaller market.
The investigation by the New York Department of Financial Services of nonbank servicers including Nationstar Mortgage and Ocwen Financial has put a halt to servicing sales.