Tag Archives: Investors

After aggressively pursuing opportunities to grow, Ocwen Financial Corporation (Ocwen) reported an increase earnings in the third quarter of 2012. The mortgage servicer reported a net income of $51.4 million, or $0.37 per share in Q3 2012, a sharp increase of more than $30 million from the same quarter a year ago. Revenue soared even higher in Q3, spiking 90 percent from last year to $232.7 million. Ocwen says the figures for revenue and income from operations were record-setting numbers.

The mortgage market may be the largest market for consumer finance, but the sector lacks a comprehensive national database, according to the Federal Housing Finance Agency (FHFA) and Consumer Financial Protection Bureau (CFPB). This is why the federal agencies are coming together to create a national mortgage database.

Cetip, a private asset clearinghouse based in Brazil, will partner with technology provider FNC. Through the partnership, Oxford, Mississippi-based FNC, Inc. will apply its technology solutions to the Brazilian mortgage industry.

A survey released by the Federal Reserve shows slight easing of standards and strengthened demand for home loans.

Document and compliance software developer DocMagic, Inc., announced it has successfully customized and integrated its loan origination and package compliance solutions for the benefit of the more than 200 correspondent bank customers of Winona, Minnesota's Merchants Bank.

According to the CFPB, an examination of financial institutions found "instances of significant non-compliance with" regulatory statutes.

A Texas judge granted a motion to dismiss a case filed against Mortgage Electronic Registration Systems, Inc. (MERS), and its co-defendants over county recording clerk filing fees. The dismissal was MERS' second victory of the week in Texas. One day earlier, MERSCORP announced that the Supreme Court of Texas denied a borrower's petition for review.

Mortgage Marvel, a mortgage-shopping website with headquarters in Mequon, Wisconsin, recently announced a new guarantee for borrowers seeking closing fee quotes. If Mortgage Marvel quotes closing fees that exceed actual the actual fee by more than $50, the company will pay the consumer up to $2,500.

Fixed mortgage rates fell back slightly to start November as investors anxiously wait for signs of which direction the economy is headed.

The National Credit Union Administration (NCUA) announced the closing of U.S. Central Bridge Corporate Federal Credit Union (U.S. Central Bridge). The closing comes after three years of efforts to stabilize the corporate credit union sector, the agency stated in a release.