The MReport Webcast: Tuesday 3/1/2016

While winter months typically provide an expected seasonal cooling of the housing market, there are two other pressing factors in the equation that are keep buyers out of the market.

The National Association of Realtors reported in its pending Home Sales Index that pending home sales

declined 2 point 5 percent to 106 in January from an upwardly revised 108 point 7 in December but is still 1 point 4 percent above January 2015 when the index was 104 point 5. The NAR attributes much of the decline in pending sales to rising home prices and diminishing inventory.

Ocwen Financial experienced its second straight financially difficult year, reporting a net loss of 224 million dollars for the fourth quarter of 2015 and a net loss of 246 million dollars for the full year of 2015 in the servicer’s earnings statement released on Monday. Although a net loss of 224 million dollars is bad news for any for-profit company, it is still an improvement from Ocwen’s regulatory turbulent year of 2014 in which the company reported a record net loss of 546 million dollars.

64wJ9mq1jYo