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Which Hidden Gems Make Cut as Year’s Hottest Neighborhoods?

Which Hidden Gems Make Cut as Year’s Hottest Neighborhoods?

Redfin has come out with its annual list of the country's hottest neighborhoods for the coming year. The company ranked 105 neighborhoods across 21 major markets that have grown the most in popularity during the four months leading into 2014. At the top of the list is the Bernal Heights North Slope neighborhood in San Francisco, California.

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‘Extraordinary Stimulus’ Needed to Lift Consumer Spirits

As the economy struggles toward recovery, consumers are widely disappointed with the government, reluctant to spend, and harbor a somewhat pessimistic outlook toward future incomes, according to the Thomson Reuters/University of Michigan Survey of Consumers, which has observed consumer sentiment since 1946. Researchers say it's going to take an ""extraordinary stimulus"" to restore healthy economic growth.

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Ocwen to Pay $2B for Servicing Violations

Ocwen to Pay $2B for Servicing Violations

Ocwen Loan Servicing must provide $2 billion in principal reductions to underwater borrowers and refund $125 million to nearly 185,000 borrowers who were foreclosed on, the Consumer Financial Protection Bureau (CFPB) along with 49 state attorneys general announced Thursday. ""The CFPB and its partner states believe that Ocwen was engaged in significant and systemic misconduct that occurred at every stage of the mortgage servicing process,"" bureau officials said.

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U.S. Bancorp Names New Chief Risk Officer

U.S. Bancorp Names New Chief Risk Officer

U.S. Bancorp announced the promotion of P.W. Bill Parker to the position of vice chairman and chief risk officer. Parker has been with U.S. Bancorp since 1984, starting his career as a commercial lending officer and working up through the ranks as senior credit officer and EVP for credit policy.

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Stonegate Expands with New Acquisitions

Stonegate Expands with New Acquisitions

Stonegate Mortgage Corporation, a non-bank mortgage firm focused on origination, financing, and servicing, announced the acquisition of the wholesale lending channel and certain distributed retail assets of Nationstar Mortgage Holdings. In addition to expanding Stonegate's wholesale and retail client base, the acquisition adds more than 200 employees to the company's ranks.

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How Important Is Down Payment in Determining Default?

How Important Is Down Payment in Determining Default?

Amid new regulations and increased focus on underwriting standards, the Federal Housing Finance Agency recently released a working paper on the impact of down payment amounts on loan performance. Overall, the agency found a nonlinear relationship between loan-to-value (LTV) ratio and foreclosure rates but found that credit score alongside LTV can play an important role in determining the likelihood of foreclosure.

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