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Ocwen Financial Corp. reacted to the recent developments in the last week that included a ratings upgrade from Moody's and being placed Standard & Poor's CreditWatch list for a downgrade, with a press release on Friday in which the company's president and CEO praised the company's progress and said he was "surprised" by S&P's move.

While mortgage industry stakeholders and lawmakers await the U.S. Supreme Court's decision on whether or not so-called disparate impact claims are allowed under the Fair Housing Act, the U.S. House of Representatives passed an amendment barring the Justice Department for using funds to bring ...

Cordray ruled that New Jersey-based mortgage lender PHH Corp. accepted kickbacks for illegally referring consumers to mortgage insurers. In addition to Cordray's ruling, a final order was issued that requires the lender to obey the law and to pay $109 million to the CFPB.

Over the past two years, the SFR mortgage-backed securities market for single family rentals has grown rapidly, the CoStar reported. Institutional owners have brought 18 of these transactions to a total market value of $9.8 billion.

Garrett and Mike Capuano (D-Massachusetts) introduced H.R. 2625, also known as the Bailout Prevention Act (BPA) of 2015 in response to the Fed's perceived failure to make any meaningful changes with regards to implementing certain provisions of Dodd-Frank that would limit the Fed's broad powers.

Representative Scott Garrett (R-New Jersey) proposed the amendment to H.R.2578, known as the Fiscal Year 2016 Commerce, Justice, and Science Appropriations Act, sponsored by Representative John Abney Culberson (R-Texas) and introduced on May 27. The act, including Garrett's amendment, passed largely among party lines by a vote of 242 to 173 on Wednesday with only 12 Democrats voting in favor and only 10 Republicans voting against.

Rood, whose two decades of mortgage industry experience include serving as of Senior Director and Principal of Fannie Mae’s eBusiness Division, told radio host Jim Bohannon that the recent surge in apartment construction was largely due to developers taking advantage of millennials who have aspirations of homeownership, but cannot afford it but want to get out of their parents' houses.

New legislation will also allow banks and credit unions that have less than $10 billion in assets relief from the Consumer Financial Protection Bureau’s (CFPB) Qualified Mortgage rule, the committee members said. This will exempt certain loans from its requirements as long as these intuitions do not sell or securitize those loans.

The Federal Reserve reported in its Beige Book on Current Economic Conditions for May 2015 that residential real estate activity and construction has expanded in most districts since the previous Beige Book report in mid-April and that outlooks were "largely positive."

Judge Shira Sheindlin of the U.S. District Court for the Southern District of Manhattan ruled HSBC Holdings must face three lawsuits from investors that claim the bank tried to hide defects in residential mortgage-backed securities from them before the crisis,