Compliance & Regulation

Dallas County District Attorney Craig Watkins this week filed suit against MERSCORP, seeking a judicial determination of whether the industry's use of the Mortgage Electronic Registration System is legal in the Lone Star State.

More than a year after the Dodd-Frank Act was supposed to put the issue to rest, the question of whether "too big to fail" still exists is once again consuming the financial services industry.

House and Senate appropriators are moving toward approving the Department of Housing Urban Development's fiscal year 2012 budget bill with few changes to FHA and Government National Mortgage Association programs.

BuildFax and DataVerify have come together to create an automated solution that confirms if a proper appraisal was conducted for newly constructed properties.

The National Credit Union Administration this week proposed a handful of regulatory measures, including new rules on participations that would require residential originators to retain some of the loans they participate out.

A Florida court ruling could make it harder for mortgage servicers to use computer records as evidence for foreclosure without verifying the underlying information.

A top Republican on the House Financial Services Committee said Tuesday she is disappointed that the GOP has not been able to fix Fannie Mae and Freddie Mac since taking control of the House in January.

The housing finance sector will have to wait until next year for the final rule on what constitutes a 'qualified residential mortgage,' the unofficial head of the Consumer Financial Protection Bureau told a regulatory forum in Washington.

Raj Date, the de facto head of the Consumer Financial Protection Bureau, said Tuesday that misaligned incentives led to some of the major problems in mortgage servicing and still persist.

The chief author of the Dodd-Frank Financial Reform Act took exception to what he called "the revolt against risk retention," saying requiring originators to hold 5% of the loan amount on their books is "one of the central things we did in the bill."