Compliance & Regulation

A licensed loan officer in North Carolina who worked for Beazer Mortgage Co. has been charged with three counts of mortgage fraud.

FACTS

The Consumer Financial Protection Bureau plans to redesign the HUD-1 settlement sheet after it completes a final round of public comments on the good faith estimate form next month, according to agency assistant director Patricia McCoy.

Citigroup Inc.'s Vikram Pandit said Friday it may be time for the U.S. to follow other nation's lead and start approaching consumer lending as a corporate finance issue.

Back in 2006, Fannie Mae officials knew that attorneys representing the GSE were filing false documents in foreclosure proceedings but did nothing about it, according a new inspector general report.

Fannie Mae and Freddie Mac hiked their guarantee fees in 2010, but the 10 largest seller/servicers to the GSEs continued to pay lower G-fees than their smaller competitors, according to a new report from the Federal Housing Finance Agency.

Several large Wall Street firms that played a key role in financing nonprime lenders this week asked a federal judge to dismiss a nearly $2 billion civil fraud lawsuit filed by the trustee of Thornburg Mortgage, the now defunct jumbo/super jumbo lender.

The Federal Housing Finance Agency is still falling short when it comes to keeping a watchful eye on Fannie Mae and Freddie Mac.

House and Senate appropriators are giving the Government National Mortgage Association more flexibility to increase its staff despite Congressional emphasis on budget cutting and reducing deficits.

Increasingly, residential servicers are facing a pivotal moment in meeting regulatory directives aimed at setting up a "single point of contact" for troubled borrowers seeking a loan modification or other workout option.