Ocwen's response called the investors' claims "ill-conceived" and state that "[w]hile knee-jerk foreclosures may redound to the special economic interests of your clients, they are not in the best interests of the trusts as a whole, not consistent with industry practice, and therefore prohibited under the servicing agreements."
Read More »Judge Reaffirms Voluntary Dismissal of GSE Lawsuit
A U.S. District judge denied the U.S. Department of Treasury's motion to strike Pershing Square Capital Management's voluntary dismissal of a lawsuit it filed in August over misappropriation of government funds.
Read More »Auction.com Adds Two VPs to Single-Family Division
The nation's leading online real estate marketplace,Auction.com, has announced the addition of two executives, Rob Behrend and Hauke Schupp, to its single-family residential division.
Read More »Flipping Beats Out Renting as Top Home Investor Strategy
Though various reports have suggested in the last year that flipping opportunities are dwindling, Auction.com's latest survey affirms that flipping is still going strong: 50 percent of investors said they intended to flip the homes they purchased, compared to 47.3 percent who said they intended to rent them out (2.7 percent were undecided).
Read More »Freddie Mac: Plenty of Tailwinds for Housing in 2015
Freddie Mac cited a number of positive opportunities for housing in 2015—but households and businesses should take advantage of them early, because some of them aren't expected to last.
Read More »HUD Names Recipients for ‘Choice Neighborhoods’ Grants
Choice Neighborhoods builds on the work of the Neighborhood Revitalization Initiative, a partnership formed in 2009 between HUD, the Department of Education, the Department of Health and Human Services, the Department of Justice, and Treasury.
Read More »HUD Secretary to Talk Housing in ‘Live Fireside Chat’
HUD Secretary Julian Castro will answer questions about a variety of housing topics in a fireside-chat style event on the morning after President Obama's State of the Union speech on Wednesday at the Newseum in Washington, D.C. Castro is expected to discuss such topics as the Obama administration's most recent housing initiatives, responsible homeownership, making the decision to buy or rent, and resources available to first-time homebuyers.
Read More »Fourth-Quarter Earnings Down at Goldman Sachs
New York-based investment bank Goldman Sachs reported a slight year-over-year decline in Q4 2014 net earnings, but for the whole year of 2014 the firm reported a slight uptick from 2013, according to the firm's Q4 and year-end earnings statement released on Friday.
Read More »Housing Barometer Shows Improvements in All Metrics
Three of the five indicators in Trulia's quarterly housing barometer—existing-home sales, excluding distressed sales; home price level; and delinquency plus foreclosure rate—are all more than three-quarters of the way "back to normal" as of the end of 2014, according to the company.
Read More »BofA, Citi Disappoint on Earnings
Both institutions had a rough year in 2014 on the regulatory side of things. In July, Citigroup settled with the Department of Justice for $7 billion over the sale of toxic mortgage-backed securities. A month later, Bank of America settled with the DOJ for a record $16.65 billion over similar matters. The money paid out in penalties and consumer relief in 2014 took a toll on year-end net incomes for both institutions.
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