Ocwen to Sell $9.6 Billion Mortgage Servicing Rights to Walter Investment’s Green Tree Loan Servicing LLC

Ocwen to sell $9.6 billion mortgage servicing rights to Walter unit (Reuters) – Ocwen Financial Corp (OCN.N) said it was selling residential mortgage servicing rights worth $9.6 billion to a subsidiary of Walter Investment Management Corp (WAC.N). The deal is the latest in a series of steps by Ocwen to slim down its operations amid … Read more

KABOOM: BANK OF AMERICA, N.A., vs PATE AFFIRMED – Homeowners Awarded $250,000 in Punitive Damages Due to Unclean Hands and Fraud

KABOOM: BANK OF AMERICA, N.A., vs PATE AFFIRMED – Homeowners Awarded $250,000 in Punitive Damages Due to Unclean Hands and Fraud BANK OF AMERICA, N.A., AND THIRD-PARTY DEFENDANT, HOMEFOCUS SERVICES, LLC, Appellants, v. PHILLIP V. PATE AND BARBARA PATE, ROBERT L. POHLMAN AND MARCIA L. CROOM, Appellees. IN THE DISTRICT COURT OF APPEAL FIRST DISTRICT, … Read more

Fannie, Freddie Could Need Another Bailout as Risks Rise

Fannie, Freddie Could Need Another Bailout as Risks Rise (Reuters) – U.S. housing finance companies Fannie Mae and Freddie Mac could require more bailouts from U.S. taxpayers as risks are rising due to shrinking reserves, an internal watchdog for the firms’ regulator said on Wednesday. Washington bailed out the two firms in 2008 at the … Read more

[INFOGRAPHIC]: How Americans Became a Nation of Renters

How American became a nation of renters [INFOGRAPHIC] This infographic came from PM Guardian.com ~ 4closureFraud.org Tweet

Emails Reveal Lobbyist, Howard Glaser, Had Undisclosed Role In Cuomo Financial Crisis Investigation

Emails Reveal Lobbyist Had Undisclosed Role In Cuomo Financial Crisis Investigation by Justin Elliott ProPublica The Albany Times Union co-published a version of this story. Previously undisclosed emails by a mortgage industry lobbyist doubling as a consultant for then Attorney General Andrew Cuomo show the lobbyist played a self-described “critical role” in one of Cuomo’s … Read more