Housing Wire Afternoon Update
Thanks!
Curtis D. Harris, BS, CGREA, REB
Bachelor of Science in Real Estate, CSULA
State Certified General Appraiser
Real Estate Broker
ASTM E-2018 Commercial Real Estate Inspector
HUD 203k Consultant
HUD/FHA Real Estate Appraiser/Reviewer
FannieMae REO ConsultantCTAC LEED-GREEN Certificate The Harris Company, Forensic Appraisers and Real Estate Consultants
*PIRS/Harris Company and the Science of Real Estate-Partners Since 1984*630 North Sepulveda Boulevard, Suite 9A
El Segundo, CA. 90245
310-337-1973 Office
310-251-3959 CellWebSite: http://www.harriscompanyrec.com Resume: http://www.harriscompanyrec.com/rESUME2011.pdf Commercial Appraiser Blog: http://commercialappraiser.typepad.com/blog/ IT'S THE LAW-Designation Discrimination is Illegal [FIRREA, Sec. 564.6]: Professional Association Membership: "A State Certified General Appraiser may not be excluded from consideration for an assignment for a federally related transaction by virtue of membership or lack of membership in any particular appraisal organization," including the appraisal institute. http://www.ofi.state.la.us/re-otspart565.pdf CONFIDENTIALITY/PRIVILEGE NOTICE: This transmission and any attachments are intended solely for the addressee. The information contained in this transmission is confidential in nature and protected from further use or disclosure under U.S. Pub. L. 106-102, 113 U.S. Stat. 1338 (1999), and may be subject to consultant/appraiser-client or other legal privilege. Your use or disclosure of this information for any purpose other than that intended by its transmittal is strictly prohibited and may subject you to fines and/or penalties under federal and state law. If you are not the intended recipient of this transmission, please destroy all copies received and confirm destruction to the sender via return transmittal.
From: HousingWire Newsletter [mailto:[email protected]]
Sent: Monday, February 29, 2016 12:33 PM
To: [email protected]
Subject: Afternoon Edition: Black Monday for Ocwen as nonbank discloses cavalcade of bad news
Is this email not displaying correctly? View it in your browser.
Afternoon Update
February 29, 2016
Ocwen's black Monday: Nonbank discloses cavalcade of bad newsOcwen Financial reported its fourth quarter and full-year 2015 financial results on Monday morning, and the news wasn't good. The nonbank disclosed that it posted a big loss in 2015, making it the second year in a row that the company took a loss. And not only did the nonbank take a loss in 2015, it expects to take another in 2016. And that's not all. Ocwen also disclosed that it is currently under an SEC investigation.
Advertisement Self-employed borrower?
Bank statement loans have been quietly making their way back into the residential mortgage market, paving the way for thousands of borrowers unable to obtain financing. Learn how this program is helping lenders to grow their book of business. Learn more.
Pending home sales to lag until inventory crisis endsPath to homeownership an 'uphill climb'The year isn't starting off too hot, with inventory shortages and rising home prices once again impeding any potential housing growth. If something doesn't change in new and existing homes for sale, the path to homeownership will remain an uphill climb.
First Federal Bank of Kansas City reaches $2.8 million settlement for redliningBank accused of excluding minority neighborhoods from lending service areaAccording to the Department of Housing and Urban Development, First Federal Bank of Kansas City allegedly redlined several neighborhoods where the majority of the residents are African-American, thereby limiting residential mortgage lending to persons based upon their race, which is a violation of the Fair Housing Act.
[Thursday webinar] Closing more low down payment mortgagesHere's how to safely and confidently close 3% down loansFreddie Mac wants to help you close more low down payment mortgages. Go ahead, you can do it. To get started making more mortgage money, register for the webinar that will explain it all.
GE gets subpoena over subprime mortgage operationDOJ investigating whether GE broke any laws from 2005 to 2007GE disclosed in its annual report on Friday that its lending unit, GE Capital, and defunct subprime lending unit WMC, received subpoenas in January. GE said it will cooperate with the Justice Department's investigation, which is at an early stage.
Walter Investment beats 4Q revenue expectationsThe latest status of its originations segmentAfter coming up a lot in recent news, Walter Investment ended last year on the positive side of the ledger, beating expectations by $26.65 million. However, this new earnings release sheds some light on the state of the company's origination division, giving more background on the latest management shake up.
Mortgage Contracting Services relocating to Lewisville, TexasFirm moving in this summerA Plano, Texas-based property preservation and inspection company is moving its headquarters to the neighboring city of Lewisville. Mortgage Contracting Services, a provider of property preservation, inspections, REO property maintenance and valuations to the financial services industry, announced Monday that it leased a 120,000-square-foot office building.
Hot Seat: Krish Swaminathan of Sutherland Global ServicesOutsourcing partnerships benefit mortgage lendersRamping up staff and adding capacity to handle volume swings is costly and time consuming to mortgage lenders. Partnering with a seasoned provider like Sutherland Mortgage allows lenders to expand without additional staff or taking on another lease.
Title companies gear up to manage advanced eClosingsWhat lenders should knowWhile lenders are expected to benefit tremendously from eClosings, title and settlement companies are beginning to lead the way. This makes sense, considering their in-depth knowledge of the closing process and the fact that they are the ones ultimately insuring the transactions.
How mortgage lenders can manage changing interest ratesAlight takes the guesswork out of forecasting with real-time analysisPredicting what comes after an interest rate change may seem like a high-stakes guessing game, but mortgage lenders using Alight's dynamic analysis can get critical visibility into their breakeven point and know what funding levels they need to maintain profitability. These executives can also forecast general and administrative expenses and branch profitability with every change.
Forward to a FriendUpdate Your ProfileSubscribe to Magazine
Any reprints or other use of these articles in whole or in substantial part, in any medium, requires advance written permission from HousingWire. For reprint information on stories in the HousingWire Daily Update, e-mail [email protected] or call 469-893-1480.Some links may require registration or subscription. HousingWire is not affiliated with the referenced publications.Unsubscribe from the HousingWire Update. We'd be sorry to see you go.HousingWire: HousingWIre 1320 Greenway Drive. Ste 870 Irving, Texas 75038 USA | Phone: 469-893-1480Copyright 2015 HousingWire. All rights reserved.The HousingWire Daily Update is a daily electronic publication offered for free to qualified industry professionals who have opted in to receive our newsletter. Thanks for being on the cutting edge!
Thanks!
Curtis D. Harris, BS, CGREA, REB
Bachelor of Science in Real Estate, CSULA
State Certified General Appraiser
Real Estate Broker
ASTM E-2018 Commercial Real Estate Inspector
HUD 203k Consultant
HUD/FHA Real Estate Appraiser/Reviewer
FannieMae REO ConsultantCTAC LEED-GREEN Certificate The Harris Company, Forensic Appraisers and Real Estate Consultants
*PIRS/Harris Company and the Science of Real Estate-Partners Since 1984*630 North Sepulveda Boulevard, Suite 9A
El Segundo, CA. 90245
310-337-1973 Office
310-251-3959 CellWebSite: http://www.harriscompanyrec.com Resume: http://www.harriscompanyrec.com/rESUME2011.pdf Commercial Appraiser Blog: http://commercialappraiser.typepad.com/blog/ IT'S THE LAW-Designation Discrimination is Illegal [FIRREA, Sec. 564.6]: Professional Association Membership: "A State Certified General Appraiser may not be excluded from consideration for an assignment for a federally related transaction by virtue of membership or lack of membership in any particular appraisal organization," including the appraisal institute. http://www.ofi.state.la.us/re-otspart565.pdf CONFIDENTIALITY/PRIVILEGE NOTICE: This transmission and any attachments are intended solely for the addressee. The information contained in this transmission is confidential in nature and protected from further use or disclosure under U.S. Pub. L. 106-102, 113 U.S. Stat. 1338 (1999), and may be subject to consultant/appraiser-client or other legal privilege. Your use or disclosure of this information for any purpose other than that intended by its transmittal is strictly prohibited and may subject you to fines and/or penalties under federal and state law. If you are not the intended recipient of this transmission, please destroy all copies received and confirm destruction to the sender via return transmittal.
From: HousingWire Newsletter [mailto:[email protected]]
Sent: Monday, February 29, 2016 12:33 PM
To: [email protected]
Subject: Afternoon Edition: Black Monday for Ocwen as nonbank discloses cavalcade of bad news
Is this email not displaying correctly? View it in your browser.
Afternoon Update
February 29, 2016
Ocwen's black Monday: Nonbank discloses cavalcade of bad newsOcwen Financial reported its fourth quarter and full-year 2015 financial results on Monday morning, and the news wasn't good. The nonbank disclosed that it posted a big loss in 2015, making it the second year in a row that the company took a loss. And not only did the nonbank take a loss in 2015, it expects to take another in 2016. And that's not all. Ocwen also disclosed that it is currently under an SEC investigation.
Advertisement Self-employed borrower?
Bank statement loans have been quietly making their way back into the residential mortgage market, paving the way for thousands of borrowers unable to obtain financing. Learn how this program is helping lenders to grow their book of business. Learn more.
Pending home sales to lag until inventory crisis endsPath to homeownership an 'uphill climb'The year isn't starting off too hot, with inventory shortages and rising home prices once again impeding any potential housing growth. If something doesn't change in new and existing homes for sale, the path to homeownership will remain an uphill climb.
First Federal Bank of Kansas City reaches $2.8 million settlement for redliningBank accused of excluding minority neighborhoods from lending service areaAccording to the Department of Housing and Urban Development, First Federal Bank of Kansas City allegedly redlined several neighborhoods where the majority of the residents are African-American, thereby limiting residential mortgage lending to persons based upon their race, which is a violation of the Fair Housing Act.
[Thursday webinar] Closing more low down payment mortgagesHere's how to safely and confidently close 3% down loansFreddie Mac wants to help you close more low down payment mortgages. Go ahead, you can do it. To get started making more mortgage money, register for the webinar that will explain it all.
GE gets subpoena over subprime mortgage operationDOJ investigating whether GE broke any laws from 2005 to 2007GE disclosed in its annual report on Friday that its lending unit, GE Capital, and defunct subprime lending unit WMC, received subpoenas in January. GE said it will cooperate with the Justice Department's investigation, which is at an early stage.
Walter Investment beats 4Q revenue expectationsThe latest status of its originations segmentAfter coming up a lot in recent news, Walter Investment ended last year on the positive side of the ledger, beating expectations by $26.65 million. However, this new earnings release sheds some light on the state of the company's origination division, giving more background on the latest management shake up.
Mortgage Contracting Services relocating to Lewisville, TexasFirm moving in this summerA Plano, Texas-based property preservation and inspection company is moving its headquarters to the neighboring city of Lewisville. Mortgage Contracting Services, a provider of property preservation, inspections, REO property maintenance and valuations to the financial services industry, announced Monday that it leased a 120,000-square-foot office building.
Hot Seat: Krish Swaminathan of Sutherland Global ServicesOutsourcing partnerships benefit mortgage lendersRamping up staff and adding capacity to handle volume swings is costly and time consuming to mortgage lenders. Partnering with a seasoned provider like Sutherland Mortgage allows lenders to expand without additional staff or taking on another lease.
Title companies gear up to manage advanced eClosingsWhat lenders should knowWhile lenders are expected to benefit tremendously from eClosings, title and settlement companies are beginning to lead the way. This makes sense, considering their in-depth knowledge of the closing process and the fact that they are the ones ultimately insuring the transactions.
How mortgage lenders can manage changing interest ratesAlight takes the guesswork out of forecasting with real-time analysisPredicting what comes after an interest rate change may seem like a high-stakes guessing game, but mortgage lenders using Alight's dynamic analysis can get critical visibility into their breakeven point and know what funding levels they need to maintain profitability. These executives can also forecast general and administrative expenses and branch profitability with every change.
Forward to a FriendUpdate Your ProfileSubscribe to Magazine
Any reprints or other use of these articles in whole or in substantial part, in any medium, requires advance written permission from HousingWire. For reprint information on stories in the HousingWire Daily Update, e-mail [email protected] or call 469-893-1480.Some links may require registration or subscription. HousingWire is not affiliated with the referenced publications.Unsubscribe from the HousingWire Update. We'd be sorry to see you go.HousingWire: HousingWIre 1320 Greenway Drive. Ste 870 Irving, Texas 75038 USA | Phone: 469-893-1480Copyright 2015 HousingWire. All rights reserved.The HousingWire Daily Update is a daily electronic publication offered for free to qualified industry professionals who have opted in to receive our newsletter. Thanks for being on the cutting edge!
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