Google+
  • Ocwen2.80+0.00 +0.00%
  • Zillow48.18-2.14 -4.25%
  • Trulia47+0 +0%
  • NationStar17.78-0.14 -0.78%
  • CoreLogic43.36-0.20 -0.46%
  • RE/MAX56.70-0.45 -0.79%
  • Fannie Mae2.35-0.04 -1.67%
  • Freddie Mac2.26-0.02 -0.88%
  • Wells Fargo53.16+0.26 +0.49%
  • CitiMortgage64.23+0.45 +0.71%
  • Bank of America23.27+0.38 +1.66%
  • Fidelity National Financial44.52-0.15 -0.34%
  • First American45.22-0.12 -0.26%
  • Black Knight Financial Services40.05+0.00 +0.00%
  • AUDUSD=X0.7589+0.0007 +0.0897%
  • USDJPY=X112.1240-0.1420 -0.1265%
Home | News | Secondary Market (page 4)

Credit Suisse to Pay $400 Million in RMBS Litigation

After allegedly selling toxic residential mortgage-backed securities which led to the failure of three credit unions, Credit Suisse Securities has agreed to pay $400 million in a settlement on Wednesday. The National Credit Union Administration settled with Credit Suisse, ending a litigation that has lasted nearly five years. The NCUA filed a motion for voluntary dismissal in Kansas federal court on Tuesday.

Read More »

Deadline Approaches for Shareholders to Pursue Claims Against Ocwen

According to Tripp Levy, Ocwen has made public statements to its shareholders that were false and misleading. The firm stated that the deadline for investors to make their claim is approaching, as it mounts a class-action law suit on behalf of shareholders who purchased shares of Ocwen during the period between May 11, 2015 and April 19, 2017. In reaction to recent allegations, Ocwen has responded: "Under these circumstances, Ocwen has a responsibility to its customers, shareholders, and employees to vigorously defend the Company."

Read More »

Ocwen Files Restraining Order, Receives New Fitch Rating

Ocwen Financial filed two emergency motions requesting the immediate court action restraining the cease and desist order brought by the Illinois Department of Financial and Professional Regulation, Division of Banking and the Commissioner of Banks of the Massachusetts Division of Banks. The recent events have caused Fitch to give Ocwen a new rating.

Read More »

Freddie Mac Releases Allowable for Clear Boarding

In an effort to reduce community blight and vandalism damage to vacant properties, as well as maintain property values, Freddie Mac released an allowable for clear boarding in a recent bulletin. Freddie Mac will reimburse servicers for use of clear boarding up to $2.25 per united inch, with a maximum amount of $2,000. According to Freddie Mac, in order to qualify, the clear boarding must be made of polycarbonate material or at least the same strength, at least 3/16” thick, and properly installed.

Read More »

The Week Ahead: FSC to Hold Financial CHOICE Hearing

In the wake of President Trump’s executive order targeting Dodd-Frank and Consumer Protection, the Financial Services Committee (FSC) will hold a hearing to discuss the Financial CHOICE act. Committee Chairman Jeb Hensarling first unveiled the rules and principles guiding Financial CHOICE last June, and the act was approved by the FSC in September. At the center of the act is a plan eliminate bailouts and hold Wall Street accountable. Additionally, the act calls for banks to be better capitalized, and to reduce the strain of regulation on smaller banks.

Read More »

Paper Proposes Plan for GSE Reform

A new white paper has proposed a detailed plan for reforming the nation’s GSEs. Offering a roadmap toward reform, the paper also outlines how to handle the transition to a new GSE system, as well as the secondary markets role in the move. The paper is designed to help legislators move GSE reform along—a goal the new administration has made clear.

Read More »

Report: “CFPB Offers Much-Needed Protection”

A new report by Trulia says the Consumer Financial Protection Bureau has proven a powerful ally to borrowers across the economic spectrum. It’s also proven a valuable resource for military service members and older Americans. And taking it away could be more trouble than its worth.

Read More »

Mortgage Defaults Climb Slightly

mortgage default rates are up one basis point from February to .75 percent, a one-year high. Year-over-year, the mortgage default rate dropped from .77 percent, while the bank card default rate increased year over year. Of the five major cities covered by the S&P/Experian Consumer Credit Default Indices (New York, Chicago, Dallas, Los Angeles, and Miami), New York and Chicago posted month-over-month increases in the Index level, while Dallas, Los Angeles, and Miami posted month-over-month decreases in defaults.

Read More »

GSEs Expand Credit Box, Take More Lending Risk

A new index shows the GSEs are expanding their credit boxes and taking more risk, making it easier for consumers to get a mortgage loan. Government, portfolio, and private-label security channels are not expanding the box, however, and are actually decreasing the amount of risk they take in lending. Though overall mortgage credit availability is largely stable, there is still much room to expand the credit box—particularly in these more stringent markets.

Read More »
Scroll To Top