Ocwen is finally getting some good news. The servicer's stock has spiked since a recent acquisition announcement by New Residential Corporation, which will purchase a portion of Ocwen’s mortgage servicing rights for the next five years. Ocwen stock rose as high as 46 percent following the announcement, reaching $3.32 per share at its peak.

The House Financial Services held its second hearing on the Financial CHOICE Act today, and what resulted was a deepening of party lines. Heated arguments between representatives on both sides of the aisle took place, with one Democrat even calling the bill the "Wrong Choice Act."

Volume of government-backed purchase loans rose by 10 percent in January, despite an uptick in mortgage rates. RHS loans far outpaced other categories, with FHA comprising the smallest segment. The number of first-time buyers also rose, increasing 11 percent over the year.

In an interview with Fox Business on Monday, Secretary of the Treasury Steven Mnuchin said he is committed to GSE reform--and that it might not include privatizing Fannie or Freddie. The main goal of the Trump administration, according to Mnuchin, is to provide "ample credit for housing" without putting taxpayers at risk. On the fate of the GSE's, Mnuchin said, "We’re committed to not leaving them as-is for the next four years."

Fannie Mae’s gross mortgage portfolio increased at a compound annualized rate of 0.1 percent in March. In February, it decreased at an annualized rate of nearly 17 percent. Total aggregate unpaid principal balance on the GSE's mortgage portfolio was just under $269 billion—up about $30,000 over the month.

Non-current inventory is at an 11-year low, falling below historical norms for the fourth consecutive month. The states with the highest percentage of non-current loans were largely in the South, including Mississippi, Louisiana, Alabama, New Jersey, and West Virginia. States with the lowest share were in the Midwest and Western U.S., including Idaho, Montana, Minnesota, North Dakota, and Colorado.

The average American renter can now purchase a home more expensive than the nation’s median home value, while keeping their monthly housing budget the same. This was true in 37 out of 50 markets analyzed. The current national median rent is $1,416 per month—just enough to handle the monthly costs of a property valued at $289,505, including property taxes, maintenance, and insurance payments.

Many expect the Federal Reserve to begin pulling back from the MBS market later this year or early next. A new analysis delves into the options the Fed has for its pullback--as well as the impact each of those options may have on the market. Whichever the Fed choose, expert say it will impact mortgage rates either way.

Freddie Mac’s total mortgage portfolio grew 4.8 percent from March 2016 to March 2017, according to recent data. The GSE has handled $98 billion in purchase and refinance loans this year to date. Serious delinquencies were down on Freddie single-family loans but stayed steady for multi-family ones.

Ocwen has filed three motions against the CFPB in hopes of speeding up a Circuit Court of Appeals decision on the Bureau's constitutionality. The motions arrive on the back of a recent suit filed by the CFPB against Ocwen on April 21. The suit alleged Ocwen committed errors throughout the servicing process and improperly foreclosed on at least 1,000 homeowners.