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Altisource Portfolio Solutions (ASPS) is acquiring the servicing rights to the HSBC REO department, laying off most of the REO staff and operating on a very small crew till November, HousingWire sources said.
A judge on Tuesday dismissed a lawsuit by the Federal Deposit Insurance Corporation against banks including Deutsche Bank AG and Credit Suisse Group AG over mortgage-backed securities sold before the 2008 financial crisis.
In the second quarter on average flippers bought properties for an 8% discount below their estimated market value (via automated valuation model) and re-sold them at an average 6% premium above their estimated market value, according to RealtyTrac.
RMBS left over from the wreckage of the subprime crisis are finding renewed favor with investors, siphoning off demand for new mortgage-backed instruments by offering juicier yields.
Did Wall Street foresee the recent crash of the US housing bubble? Given the role played by Wall Street in facilitating the credit expansion that precipitated the housing market boom, understanding this question is important for systematically understanding the causes of the worst financial crisis since the Great Depression.
FICO, the company that develops proprietary scoring models for credit bureaus and lenders, announced August 7 that anew model (FICO Score 9) would be released this fall.
Did you ever play Monopoly? It was a board game we all played when I was a kid, and one of the best cards to draw was called "Get Out of Jail Free."
At least 2.5 million borrowers will face an average increase of $250 per month on their monthly mortgage payment due to the imminent reset in home equity lines of credit over the next three years, according to Black Knight Financial Services’ Mortgage Monitor Report.
Here's an opportunity for the White House to give Detroit -- and Michigan -- a boost without spending a dime of taxpayer money: Simply allocate part of the $16.6 billion settlement reached with Bank of America this month over the mortgage meltdown to neighborhood-related projects.
Lawyers for Bank of America have filed to overturn a jury verdict last year that held the bank liable for faulty mortgage-backed securities sold by its Countrywide unit.
Fannie Mae officials told employees on Wednesday that the company plans to sell its mansion-like headquarters in Washington, D.C., as part of a consolidation of its five, D.C.-area offices into a single, leased office building.
The Federal Deposit Insurance Corp. released its Quarterly Banking Profile Thursday. This balance sheet for the U.S. economy showed total assets in the banking system rose by 5.3% year over year in the second quarter to $15.16 trillion.
Bank of America CEO Brian Moynihan stopped recently in Farmington to visit a major office of the bank's home equity lending business. In the past 18 months, the location has added 200 employees, for a total of 650, most of them in home equity. More growth, the bank says, is expected in the coming months.
The mainstream nonfinancial press is picking up on an underreported story that HousingWire has been covering since March.
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.