Ocwen Financial has agreed to pay $150 million to New York regulators to settle allegations that it fudged foreclosure documents and said Monday that its founder and, executive chairman, William Erbey is stepping down after 30 years with the Atlanta company.
Purchases of previously owned homes dropped more than forecast in November as residential real estate struggles to sustain its recovery even as borrowing costs remain low.
Learn how one bank replaced its paper-based loan origination system with D+Hs Web-based MortgagebotLOS, and is keeping pace with compliance and customer needs.
The new estimate shows a 15% increase in purchase mortgage originations, compared to a drop in 2014.
Federal bank regulators increased the asset-size thresholds for the definition of a "small bank" and "intermediate small bank" for certain bank exams on Friday.
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