The Lede
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An Old Fear Returns as New Mortgage Market Players Rise
MarketWatch, Feb. 29, 2016--Riquier, Andrea
Since the crisis, banks have increasingly stepped away from mortgage lending. Companies often called "nonbanks," or "mortgage bankers," like Quicken and Nationstar, are stepping into that void. There are more players in the mortgage market now, said Mortgage Bankers Association President and CEO David Stevens, and that distributes risk much more broadly.
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Why Everyone Is Suddenly Talking About Trump Mortgage
Time, Feb. 29, 2016--Wolff-Mann, Ethan
The "Trump" name has appeared in quite a few businesses. It's been on skyscrapers, hotels, a failed airline, a Virginia winery, a golf course built on a landfill, and a sketchy "university," to name a few. Among the Trump businesses that have gone belly up is Trump Mortgage, LLC which had a brief life starting in 2006, just before the housing crisis.
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Mortgage Service Giant Ocwen Hit with another SEC Probe
New York Post, Feb. 29, 2016
Ocwen Financial is again being probed by regulators over fees and expenses related to liquidated loans and bank-foreclosed properties, the company said in a regulatory filing on Monday.
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Buffett Defends Housing Unit Against Critics
National Mortgage Professional, Feb. 29, 2016--Hall, Phil
Warren Buffett forcefully defended his Clayton Homes manufactured housing operation this weekend in his annual letter to Berkshire Hathaway shareholders, citing data to support his claims of a well-run operation with minimal hiccups.
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Ginnie Mae Re-Opens Doors to New Issuers
National Mortgage News, Feb. 29, 2016--Sinnock, Bonnie
After imposing a virtual moratorium on adding new issuers, Ginnie Mae is again accepting applications from mortgage companies seeking to pool loans for securitization and servicing.
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Ocwen, Walter Investment Both Post Full-Year Losses for 2015
National Mortgage News, Feb. 29, 2016--Passy, Jacob
Ocwen Financial Corp. and Walter Investment Management Corp. both recorded full-year losses in 2015, though that is where comparisons between the two companies cease.
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U.S. Pending Home Sales Hit One-Year Low; Manufacturing Weak
Reuters, Feb. 29, 2016--Mutikani, Lucia
Contracts to buy previously owned U.S. homes fell to their lowest level in a year in January amid a persistent shortage of properties for sale, which could slow the housing market ahead of the spring selling season.
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Is ‘The Big Short’ an Accurate Description of the Financial Crisis?
HousingWire, Feb. 29, 2016--Swanson, Brena
The results for the 2016 Oscars are in, and The Big Short won Best Adapted Screenplay. But despite the new Hollywood proof that the film is impressive, it doesn't mean that the movie is the most accurate source for how the financial crisis unfolded.
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CT High Court Upholds Bifurcated Mortgage Filing Fees
Hartford Business Journal, Feb. 29, 2016--Seay, Gregory
A recent Connecticut Supreme Court ruling affirming the state's imposition of higher realty-recording fees on an electronic mortgage registry will preserve a vital revenue stream for the state and its municipalities, but also maintains higher closing costs for many borrowers, experts say.
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