There are bad days, and worse days, and there are days like Ocwen Financial Corporation (OFC) had on Thursday. The company was not only sued on multiple grounds by both the Consumer Financial Protection Bureau (CFPB) and the State of Florida, but saw its operations effectively shut down by the North Carolina Commissioner of Banks. According to CFPB, Ocwen, headquartered in West Palm Beach, Fla., is one of the nation's largest nonbank mortgage servicers. As of Dec. 31, 2016, it serviced almost 1.4 million loans with an aggregate unpaid principal balance of $209 billion. It services loans for borrowers in all 50 states and the District of Columbia. First, the North Carolina commissioner, Ray Grace, issued a cease and desist order against the company after a determination that it "has engaged

April 20, 2017 Download our Mobile App: Download our Mobile App: Housing News Ocwen Sued, Shut Down in Multiple States There are bad days, and worse days, and there are days like Ocwen Financial Corporation (OFC) had on Thursday. The company was not only sued on multiple grounds by both the Consumer Financial Protection Bureau (CFPB) and the State of Florida, but saw... (read more) Housing News MBA Sets Out Plan for New Housing Finance System Calling the reform of the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac "the last piece of unfinished business from the 2008 financial crisis" the Mortgage Bankers Association today presented its proposal for the future of the ho... (read more) Mortgage Rate Watch Mortgage Rates Hold Near Lows Despite Market Weakness Mortgage rates were steady to slightly higher today, depending on the lender, despite bond market weakness. Typically, bond market weakness results in rates moving higher, but the timing of market movements can be important. Specifically, yesterday s... (read more) Rob Chrisman HUD Settlement in CA; Webinars on Reverse Mortgages, Digital Mortgages, Etc. Do you think your small competitor is going to be around at the end of 2017? Perhaps. But I am reminded of some Deloitte research from late 2015 that finds only 12% of Fortune 500 companies around in 1955 are still in business! Inc. reports 25% of ne... (read more) MBS Commentary MBS Live Day Ahead: Levels to Watch as Bonds Continue Consolidating (Hopefully not Correcting) "Consolidation" has a bit of a different connotation when it comes to financial markets (as opposed to the dictionary definition of "the process of making something stronger or more solid").  As far as financial markets are concerned, conso... (read more) MBS Commentary MBS Live Recap: Europe Convinces Bond Rally to Take a Break There are a lot of pieces on the board at the moment for the bond market rally that's been intact since mid-March.  That rally began with a friendlier-than-expected set of Fed rate hike forecasts, but the baton was quickly passed to political ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.73% +0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.73% +0.06 0.00 15 Yr. Fixed 5.97% +0.06 0.00 30 Yr. FHA 6.25% +0.06 0.00 30 Yr. Jumbo 6.84% +0.04 0.00 7/6 SOFR ARM 6.33% +0.04 0.00 30 Yr. VA 6.26% +0.06 0.00 Updates Daily - Last Update: 7/2 15 Yr. Fixed Rate 5.97% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 99.90 +0.06 Price / Yield Change MBS UMBS 5.5 99.90 +0.06 UMBS 6.0 101.61 +0.04 GNMA 5.5 100.05 +0.08 GNMA 6.0 101.46 +0.05 Pricing as of: 7/3 2:20AM EST 10 Year US Treasury 4.2641 -0.0157 Price / Yield Change US Treasury 2 YR Treasury 3.770 -0.018 5 YR Treasury 3.851 -0.016 7 YR Treasury 4.039 -0.018 10 YR Treasury 4.264 -0.016 30 YR Treasury 4.789 -0.020 Pricing as of: 7/3 2:20AM EST Latest Video CFPB sues Ocwen Financial over mortgage services Global risks: Key issues facing markets Lagarde: If Fed raises rates too fast, we will have risks Around the Web consumerfinancemonitor.com House to hold hearing on revised Financial CHOICE Act CNBC Treasury's Mnuchin: We're 'pretty close' to bringing forward 'major tax reform' NAR - Realtor.com Why the Exurbs Are Poised to Take Off in the Coming Years CNBC How to use this new formula to boost your credit score Bloomberg Treasuries Fall as Haven Bid Ebbs Ahead of French Election Washington Post The biggest regrets people have after buying a home NAHB Eye on Housing Increase in Remodeling Market Index Reflects Broad-Based Confidence CNBC Treasury traders are cleaning up as market gets bond call wrong again CNBC Weekly jobless claims rise, while continuing claims hit 17-year low CNBC Fed's Powell says parts of too-big-to-fail rules 'unnecessarily burdensome' and may not be needed at all zerohedge.com European Close Sparks Dollar Buying Panic nccob.gov N.C. Commissioner of Banks Issues Cease-and-Desist Order to Ocwen Loan Servicing CNBC Fed's Fischer: US policy normalization likely to be gradual

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