Ocwen Financial announced late Friday that it entered into an amendment on its senior secured term loan that will go into effect on Monday, April 20. According to Ocwen, the amendment “removes, with respect to the 2014 fiscal year, the requirement that Ocwen’s financial statements and the related audit report must be unqualified as to going concern.”
Industry Leaders LPS and KMC Information Systems Form Strategic Alliance
Integration of LPS Technologies and CaseAware Case Management System Will Improve Foreclosure Processing Efficiency and Transparency
Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, and KMC Information Systems (KMCIS), the leading provider of case management and integration technology to law firms and trustees, have formed a strategic alliance that will more fully integrate select LPS technologies with KMCIS’ CaseAware® platform and create an end-to-end foreclosure processing solution for loan servicers.
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Green Tree Servicing announced Friday that it received a superior five STAR designation as part of Fannie Mae’s Servicer Total Achievement and Rewards program for 2014. Green Tree also said that 2014 is the third consecutive year the company has earned the top performer distinction within its STAR peer group.
SWBC Lending Solutions announced the additions of two new vice presidents, Allen Lavelle as vice president of commercial/residential appraisal management and Brandon O’Briant as vice president of business development.
The Appeals Court of Massachusetts found in favor of Mortgage Electronic Registration System, Inc. and upheld the validity of its assignment of a mortgage.
The Federal Housing Finance Agency is leaving g-fees largely alone but it is revising requirements for private mortgage insurance companies that insure mortgage loans either owned or guaranteed by Fannie Mae and Freddie Mac. Here's the rundown.
“A man who spent years sleeping in a cardboard box by a bus stop found a bank account he had forgotten - with enough money for the deposit on a house.” If correct, that means he needs to get a mortgage. Truth is, no one is going to give this guy a mortgage.
A newly created program, called the “Detroit Neighborhood Initiative,” is based on a partnership between the city of Detroit, the Neighborhood Assistance Corporation of America, the Opportunity Resource Fund and Bank of America, and the program goes to unprecedented lengths to help restore the city to its former glory.
James O’Donnell, Equity’s president, said that the company’s recent rollout of several new services has resulted in a significant increase in new business and new business inquiries, necessitating the additions of Cline and Hill.
A consortium of housing advocacy groups is calling on the U.S. Department of the Treasury, the Federal Housing Finance Agency, and the Consumer Financial Protection Bureau to investigate “pro-foreclosure campaigns,” which the groups say are being perpetrated by “Wall Street giants including the largest hedge funds, mortgage bond traders, and insurance companies.”
Under the program, qualifying first-time homebuyers can receive up to 3% of the purchase price of the subject property in closing cost assistance toward the purchase of a HomePath property. It's time to set the record straight on the wisdom of the program.
Home equity is returning but it's way below norms in most markets. This means tightening inventory, which means a drag on existing home sales. At least that's what First American is finding. Here's why.
A federal judge has found that Wells Fargo breached a nationwide 2010 legal settlement involving adjustable-payment mortgages, finding that the bank did not properly judge and evaluate borrowers who applied for help to avoid foreclosures.
On the surface of it, most any reasonable person would understand that a mortgage lender has the right to protect its asset if the borrower is not adequately covered by homeowner’s or flood insurance policies. But here's where the controversy comes in.
Growth is tepid for the index of leading economic indicators. With softness in consumer price inflation, will the Fed really want to raise interest rates in the third quarter, or hold steady?
Police in Arizona have arrested a suspect in a sexual assault on an Arizona Realtor in March. The man allegedly targeted the Realtor during an open house. Here's how it all went down.
A new filing in the ongoing lawsuit between Zillow and Move names the anonymous whistleblower: the former Zillow Vice President of Strategic Partnerships. Want more? Read on.
The spring homebuying season is in full swing. But there's just one problem: The majority of American markets are reporting a tight supply of homes. So how are buyers supposed to lock in their dream home? This is how.
After spending years sleeping in a cardboard box, this homeless man can afford to make a downpayment on a house, thanks to a forgotten bank account.
George Lucas won’t let his neighbors stop him from his dreams. After shutting down his original attempt to develop his land in California with a studio, Lucas came up with a better plan. This time around, his focus is on helping others find housing.
Shoring up its listings losses, Zillow Group is getting innovative in its approach to bringing in new listings with an offer to MLS partners — data, data, data. The war continues.
Housing market corrections coincide with a country's GDP being 6% lower on average than if it had continued on its growth path before prices peaked. Surprised? Or worried?
A little risk in life is a good thing, and everyone deserves a chance to prove they can do better than they have. But some say the housing policies being pursued may sound awfully familiar. Maybe, just maybe, the GSE are on to something good.
Zillow Group’s transition from two sites with two different operating structures into one unified operation took a big step forward Thursday, when the Zillow Group announced that Zillow Mortgages is now available on Trulia.
Mortgage rates remain near lows for the year, but they haven’t spurred a rush to buying yet. Here’s what’s happening.
OpenClose, a provider of end-to-end loan origination systems, announced the hiring of Ken Ellis as the company’s new director of business development. In this role, Ellis will be responsible for selling the company’s multi-channel LenderAssist loan origination system platform to lenders, banks and credit unions.
Citigroup reported net income for the first quarter 2015 of $4.8 billion, or $1.51 per diluted share, on revenues of $19.7 billion. The results of the first quarter were a dramatic reversal from 2014’s fourth quarter when Citigroup reported a net income of $350 million, or $0.06 per diluted share, on revenues of $17.8 billion.
Business appears to be booming at Goldman Sachs. The investment banking, securities and investment management giant reported net revenue of $10.62 billion in the first quarter, its best quarterly performance in four years.
Jobless claims were expected to decline last week, but they rose against analyst expectations. Here's where the trouble was.
Homebuilder confidence rose in April but builders took a big hit in March, demonstrating a weakness in the housing economy.
Foreclosure activity — which includes default notices, scheduled auctions and bank repossessions — rose in March, marking the first year-over-year increase in foreclosure activity since September 2010. But the news wasn't all bad.