Ocwen Faces Possible Delisting From NYSE

Ocwen Faces Possible Delisting From NYSE Failure to file 2014 financial statement is cited Ocwen Financial Corp. disclosed late Monday after the market closed that it had been threatened with a possible delisting by the New York Stock Exchange for failing to file its 2014 annual financial statement on time, and that it wasn’t certain … Read more

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

Sen. Blumenthal and Rep. Ellison Introduce the Permanently Protecting Tenants at Foreclosure Act of 2015

Sen. Blumenthal and Rep. Ellison Introduce the Permanently Protecting Tenants at Foreclosure Act of 2015 WASHINGTON—Sen. Richard Blumenthal (D-CT) and Rep. Keith Ellison (D-MN) introduced the Permanently Protecting Tenants at Foreclosure Act of 2015 (H.R. 1354) today. The bill ensures expired federal protections for renters living in foreclosed properties are renewed. “Families who pay their … 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