Ocwen Financial Loses $2 Million In Loss Mitigation Arbitration Case Involving PHH Mortgage Subsidiary PHH Mortgage and it’s parent, Ocwen Financial loses $2 million to a homeowner in a consumer fraud case. Plaintiffs allege PHH and Ocwen denied their client consumer loss mitigation. They also claim the company refused to follow Freddie Mac guidelines to […]
Clear Capital Is Terminating 378 Employees Including 108 In California By Christmas. This Equals 27% Of Its Workforce Techcrunch.com is reporting Nevada based Clear Capital is cutting 27% of its workforce. Clear Capital is one of the biggest real estate valuation and technology firm in the US. The company is also including 108 employees in […]
Bank of America Mortgage Production Plummeted From $14.5 Billion In The 2nd Quarter To $8.7 billion In 3rd Quarter Bank of America mortgage production plummeted to $8.7 billion in the 3rd quarter. However, it was not all bad news. The bank delivered increases in revenues and net income in the third quarter of 2022. This […]
JPMorgan Chase 3rd Quarter Profits Plummet 17% But They Still Beat Analysts Expectations JPMorgan Chase 3rd quarter earnings report is full of a mixed news. The bad news is that the bank’s profits plummeted by 17%. Yet, the report indicated the bank faired better than analysts expectations even as its net income fell. The JPMorgan […]
Legal Issues And falling Mortgage Originations Cause Wells Fargo 3rd Quarter Earnings Take A $2 Billion Hit Wells Fargo 3rd quarter earnings continued to take a hit from its legal problems. The slowing housing market also didn’t help. On Friday, the nation’s third-largest bank reported net income of $3.53 billion. This is 85 cents per diluted […]
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