Ocwen Reaches $225 Million Settlement With CA
A $225 million settlement with the state of California resolves a consent order that was reached in early 2015 with an Ocwen Financial Corp. unit.
HAMP Modification Volume Increases
The government's program for modifying home loans saw a month-over-month rise as well as a year-over-year increase in volume.
HAMP Tab Reaches $23 Billion
Government funds used to pay for the Home Affordable Modification Program have reached nearly $23 billion as the program neared its sunset.
HAMP Volume Up from Year Ago
While monthly loan modification volume slowed, there was a year-over-year increase for government-supported modifications.
Drop in Loan Modifications Driven by Proprietary
A month-over-month decline in loan modifications completed was driven by proprietary activity. Government-supported modifications saw a year-over-year gain.
Monthly Loan Modifications Increase
Loan modifications rose on a year-over-year basis, though a month-over-month slump was recorded for government-supported modifications.
Mortgage Modifications Rise from Year Earlier
Despite a month-over-month decline in the volume of permanent loan modifications completed, activity accelerated from a year earlier.
Ocwen Mortgage Modifications Double
The volume of government-supported loan modifications at Ocwen Loan Servicing has recently doubled and is expected to remain robust.
FHA HAMP Streamlined
Changes are being made to the procedures on government-insured mortgages that will reduce the number of steps needed to resolve delinquency and modify the loans.
California Foreclosure Bill Headed to Governor
The Golden State's Senate has passed legislation that is intended to provide additional foreclosure protections for surviving spouses of deceased mortgage borrowers.