By Karen Freifeld NEW YORK (Reuters) – Major mortgage bond investors including BlackRock , MetLife and Pimco on Friday took a first step toward suing Ocwen Financial Corp , accusing it of having failed to properly collect payments on $82 billion of home loans, according to a person familiar with the matter and to documents seen by Reuters. The group sent a formal notice of non-performance to …
Ocwen Financial Corp. will pay $2.5 million and hire outside accountants to settle a dispute with California, which had threatened to suspend the license of the mortgage payment collector and foreclosure specialist.
The average 30-year fixed-rate mortgage is close to 3.6 percent, a near rock-bottom low that???s more than a full percentage point lower than this time last year. And for many, refinancing could mean huge savings. In the words of ???Shark Tank???s??? Barbara Corcoran:?????Money???s on sale.???…
If you saw the recent White House announcement of lower insurance payments on Federal Housing Administration home mortgages, you might have wondered: Does this matter to me as a potential home buyer or refinancer? Who specifically will benefit from the decrease in fees?
Morgan Stanley is in talks with the U.S. to resolve an investigation into the bank’s creation and sale of mortgage-backed bonds, the latest in a string of Wall Street cases tied to the 2008 financial crisis, a person familiar with the matter said.