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California Moving to Suspend Ocwen’s Mortgage License

California's Department of Business Oversight is moving to halt Ocwen's operations in the state after the company failed to provide documentation about its compliance with California's Homeowner Bill of Rights. With the latest news, Ocwen is off to a less than promising start to 2015 after concluding what was a rocky 2014.

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Analyst Reviews Housing’s Progress Under Obama

The president reported in his speech that the housing market has not come all the way back yet and there is still work to be done. But according to one analyst, the president may have overestimated how far the housing market has come back and the administration's role in the recovery.

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Economic, Housing Attitudes Mixed in New York Fed Survey

The New York Federal Reserve's year-end Survey of Consumer Expectations showed little change between November and December, though there was a small pullback in Americans' financial expectations, according to results released Monday. The results mirror the latest National Housing Survey results released last week by Fannie Mae.

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ARMCO Announces New COO

Florida-based Aces Risk Management (ARMCO), a provider of Web-based audit technology for the financial services industry, has tapped mortgage quality control expert Phil McCall to serve as COO.

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Survey Reveals Americans’ Worries About Financial Stability

Sixty-six percent of respondents in a recent survey by the National Foundation for Credit Counseling said that "I want financial stability, but don't know how to get there." Nearly one quarter of respondents (23 percent) said that "I don't think financial stability is attainable for me."

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Jobless Rate Falls to 5.6% as Payrolls Increase by 252K

The Bureau of Labor Statistics (BLS) said Friday that the national unemployment rate was down to 5.6 percent by year-end 2014, bringing that number down to its lowest level since June 2008. Economists had expected the jobless rate would fall slightly to 5.7 percent and that non-farm payrolls would increase by 245,000.

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Mortgage Rates Sink to Pre-‘Taper Tantrum’ Levels

Freddie Mac reported Thursday that the average interest rate for a 30-year fixed-rate mortgage (FRM) fell to 3.73 percent (0.6 point) in the last week, a decline of 14 basis points from the end of 2014. The 30-year fixed started off last year at an average 4.51 percent.

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