Image: Bloomberg News
Companies specializing in single-family rentals say the population of renters is growing – and many of these consumers (including a number of former homeowners) are happy to rent.
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As servicers began modifying staggering numbers of mortgages, they took control and implemented stringent underwriting practices that will serve as a model for all mortgage underwriting in the future.
Brokers of servicing rights say the overall market remains robust, despite suggestions by Ocwen's William Erbey last week that trades had ground to a halt. Trading of seriously delinquent portfolios has slowed on concerns about increased liability.
Mortgage bondholders have long complained to regulators that the national mortgage settlement gave large bank servicers credit for principal reductions and loan modifications they did not pay for themselves.
Image: Bloomberg News
Regulator Benjamin Lawsky is concerned that Hubzu, a website run by Ocwen's Alitsource affiliate, charges inflated fees "through conflicted business relationships" at the expense of mortgage investors and strapped homeowners.
The days of seeking 20% market share in mortgages
B of A caught observers off guard by announcing $6 billion in mortgage litigation expenses, but the move is an attempt to convince analysts and investors that there is an end in sight to its crisis-era legal woes. It just might work.
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