Compliance & Regulation

The HUD inspector general wants the Federal Housing Administration to ban corporate officers from the FHA program if they have left a company that has not met its obligations to indemnify the government for delinquent loans.

Within weeks of issuing standards for repaying federal bailout funds, bank regulators relaxed those rules in late 2009 as Bank of America, Citigroup, and other large depositories hurriedly pushed to get out from under the government's thumb, according to a watchdog agency's new report.

As you know, FHA has provided a critically important source of mortgage credit during this economic recovery particularly for underserved communities—and I will build upon the strong foundation of reforms initiated by the administration and continue the three fundamental priorities we have focused on since President Obama took office.

Even though GSE and FHA loan limits will decline to $625,500 at midnight Friday, borrowers with high balance FHA-insured loans can still refinance these products as long as they don't engage in a cash-out refi.

The Consumer Financial Protection Bureau is applauding the Treasury Department for guidance it issued Thursday that would help members of the military avoid foreclosure.

With official Washington bogged down in politics, the outgoing chairman of the Mortgage Bankers Association holds out little hope that the all-important high-end loan limits will be extended beyond Sept. 30 and he is concerned that, with a fragile economy, lowering limits may not be the best move.

Roughly $7.4 billion of fraudulent mortgages will be originated this year, a 40% decline from 2011, a decrease primarily due to significantly lower fundings volumes in 2011, according to a new report from CoreLogic.

A new report issued by the National Credit Union Administration blames the agency's Office of Corporate Credit Unions for failing to identify a high concentration of risky MBS at the now defunct Southwest Corporate Credit Union of Texas, a $12 billion institution.

Boston Federal Reserve Bank president Eric Rosengren wants Fannie Mae and Freddie Mac to do more to refinance homeowners and address housing market problems.

The Federal Trade Commission is investigating several residential servicing shops for abusive practices – including inaccurate payment records and charging excessive fees -- according to FTC associate director Joel Winston.