“Notwithstanding our record revenues, revenues were suppressed due to delays, that have now been resolved, in boarding the OneWest transaction. As expected, margins were below historical levels due to the timing involved in transitioning ResCap and OneWest,” said Bill Erbey, chairman of Ocwen. …read more
Monthly Archives:: October 2013
Partnership seeking investment in San Joaquin USA at SelectUSA Summit – Central Stockton News
Partnership seeking investment in San Joaquin USA at SelectUSA SummitCentral Stockton NewsFrom the Port of Stockton, Stockton Metro airport and the Union and Pacific and BNSF Intermodal truck to rail services, businesses have the flexibility to choose multiple transportation modes for export and import shipments.” Ammann says his main … and more …read more
RealtyTrac: Older housing stock offers attractive bargains
Americans shopping for real estate don’t necessarily have the pickings when it comes to a home’s age. New data from RealtyTrac’s Aging Home Analysis shows that more than 70% of single-family U.S. homes were built before 1990. …read more
HW 30 falls after Fed keeps the printing presses going
It’s difficult to gauge how the housing market viewed the Federal Reserve’s decision to keep acquiring mortgage-backed securities and Treasurys at its current pace on Wednesday. …read more
Homebuilders drive into peak season
Homebuilders are driving into their peak season, with more than 75% of annual homebuilder returns historically generated in the November-to-January time frame due to growth in demand in advance of the upcoming spring selling season. …read more
State AGs ask Supreme Court to keep disparate impact alive
A recent lending discrimination case settled in Massachusetts illustrates why state attorneys general are pushing to keep the legal theory of ‘disparate impact’ alive as they pursue Fair Housing Act discrimination claims. …read more
Federal Reserve to continue broad asset purchases
The Federal Open Market Committee once again opted to continue purchasing agency mortgage-backed securities at its current pace while keeping the federal funds rate at or near zero. The decision stems from a slight moderation in mortgage and economic growth. …read more
CoreLogic: Home prices rose in nearly 90% of US metros in 2Q
Home price reports released this week show solid home price appreciation throughout the summer, but those numbers are expected to subside a bit as the market moderates on economic uncertainty. …read more
Watt FHFA confirmation receives support
Currently, Watt’s nomination doesn’t have the necessary votes, but the situation remains incredibly fluid. But that hasn’t stopped policymakers and advocacy groups from dropping breadcrumbs on the confirmation trail. …read more
Hurricane Sandy victims still battle foreclosures
One year after Hurricane Sandy, homeowners are still struggling with the threat of foreclosure, with Queens and Staten Island posting the biggest surge in foreclosure notices. …read more
Oregon foreclosure mediation program takes off
An Oregon foreclosure mediation program is taking off after lawmakers revamped the program. …read more
Robert Shiller: Homes remain affordable despite price increases
Although home prices rose at their fastest pace in seven years, Robert Shiller, co-founder of the S&P Case-Shiller Home Price Indices, said homes are still affordable. …read more
PODCAST: Saving Homes from Foreclosure in Ohio Today… with Ohio’s Former Attorney General, Marc Dann
By Mandelman 3 WAYS TO GET TO KNOW MARC DANN… 1. On this Mandelman Matters Podcast, I ask Marc Dann all about what’s going on related to the foreclosure crisis in Ohio today, because if there’s one subject he knows better than anyone, that would be it. As of last month, Ohio ranked #7 in […]
Carrington expands wholesale business
The wholesale lending division of Carrington Mortgage Services is expanding its offerings and now considers banks and credit unions as approved third-party originators. …read more
Foreclosure rescue scheme complaints more than doubled
Foreclosure rescue schemes have become increasingly complex, involving attorneys and the bankruptcy code, among other things. Complaints rose from 9,000 in 2009 to more than 18,000 in 2012, the Government Accountability Office said. …read more
SunTrust Bank launches AnythingLoan
SunTrust Bank launched its fast and flexible AnythingLoan product for borrowers with excellent credit to use for almost any purpose. …read more
Wells Fargo donates $6 million to revitalize communities
Wells Fargo will donate $6 million to 67 nonprofits through the 2013 Leading the Way Home Priority Markets Initiative program in an effort to help revitalize neighborhoods. …read more
OCC sounds alarm on risk management of third parties
Banks need to practice effective risk management regardless of whether the bank performs the activity internally or through a third party, the Office of the Comptroller of Currency said. …read more
Fed Chair nominee Janet Yellen headed for a smooth confirmation
Despite threats of a hold on her nomination, Senate Majority Leader Harry Reid said Federal Reserve Chairman Nominee Janet Yellen is heading towards a smooth confirmation by the Senate. …read more
Greystone premieres affordable loan program
Greystone premiered its Greystone Affordable Loan Program, which provides long-term, fixed, forward rate-lock financing for affordable multifamily properties. …read more
Freddie Mac begins securitizing $1B performing HAMP loans
Freddie Mac is now securitizing $1 billion performing loans that were once at risk of foreclosure, but are now in good standing after going through the Home Affordable Modification Program launched by the government. The securitization process is just now beginning. …read more
Florida foreclosure attorney recommended for disbarment
An attorney, who was once dubbed Florida’s “foreclosure king,” is at risk of losing his law license after being investigated by the state bar. …read more
Industry leaders create standard notary rules
The Signing Professionals Workgroup released best-practice standards for notaries handling loan signings. The work group aims to create consistent, acceptable standards for notaries who represent lenders at the signing table. …read more
Genworth Financial posts $96 million 3Q profit
Genworth Financial beat analyst estimates, posting a third-quarter profit of $96 million, or 99 cents a share, up from $85 million, or 82 cents a share, a year earlier. …read more
Private sector gains 130,000 jobs in October
Private-sector employment growth cooled somewhat in October, with employers adding only 130,000 jobs to their payroll. …read more