Ocwen Financial Corp. announced after the bell Thursday that it agreed to buy mortgage servicing rights and related servicing advances from OneWest Bank for $2.53 billion.
 

The workers set to be laid off when JPMorgan Chase & Co. closes its Albion call center in September will have multiple opportunities to meet with potential employers in coming weeks.

JPMorgan Chase & Co must face a lawsuit accusing the largest U.S. bank of illegally imposing marked-up or unnecessary fees on delinquent mortgage borrowers, a federal judge ruled.

Wells Fargo & Co. (WFC) faces a second Minnesota trial over claims by institutional investors that the bank marketed a risky securities-lending program as safe and cost them millions of dollars in losses.

Money managers touted the advantages of non-agency mortgage securities and bank loans on Thursday on expectations that housing prices will accelerate and interest rates will rise.

The agency mortgage-backed securities market has been whipped around lately by such factors as the value of the dollar/yen, but there is no doubt that the market is squarely focused on what the Federal Reserve will say at its meeting next week on June 18-19.

Analysts at Bank of America Merrill Lynch believe the recent jump in home mortgage interest rates will put the brakes on some homebuyers’ plans, but will not create enough backlash to slow the momentum of the wider housing recovery. 

More real-estate investors, particularly those saving for retirement, are seeking solid returns. But they’re not buying homes. They’re buying mortgages.