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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.
Six former Bank of America Corp. employees have alleged that the bank deliberately denied eligible home owners loan modifications and lied to them about the status of their mortgage payments and documents.
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.
The refinancing boom may be cooling down, but the move to shorter mortgages — especially 10-year loans among pre-retirees — appears to be accelerating.
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.
As long as short sales remain a common strategy to handle distressed properties, related fraudulent activity should also be expected.
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.
U.S. foreclosure filings in May increased 2 percent compared to April, due largely to an 11 percent surge in bank repossessions.
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.
In the past 60 days, mortgage rates have moved up 60 basis points from 3.35% to near 4%. While that may seem like a large move, it is important to remember that rates are coming off historic lows
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.
Like many of its peers, Bank of America attended the Morgan Stanley Financials Conference in New York this week, where Chief Financial Officer Bruce Thompson was put on the hot seat, answering questions from analysts and cluing investors in on where the big bank is headed these days.
The Wall Street jobs ax is swinging again—this time at JPMorgan Chase. The bank last Friday announced a nationwide round of job cuts in its mortgage servicing unit that would eliminate roughly 1,800 jobs, according to a person familiar with the matter.
Ocwen Financial (OCN) is buying mortgage servicing rights and related servicing advances from OneWest Bank in Pasadena, Calif., for $2.5 billion.
The Mortgage News Ticker is a collection of news articles, magazine stories and blog posts from around the web. The opinion expressed are those of the news sources and do not reflect that of National Mortgage Professional Magazine, NationalMortgageProfessional.com, NMP Media Corp. or its affiliates.