Compliance & Regulation

Freddie Mac's restrictive repurchase review policy on defaulted loans may prevent the GSE from recouping "billions of dollars" in losses from lenders, according to a new investigative report from the Federal Housing Finance Agency.

The Federal Housing Finance Agency as early as this week may release a new discussion paper on restructuring servicing compensation for GSE loans while seeking a new round of public comments on proposed changes.

The SAFE Act and the Nationwide Mortgage Licensing System & Registry it codified were supposed to result in some consistency, if not standardization, in the way originators are supervised on the state level.

Risk mitigation provider Interthinx has launched its Quality Control Review Services product that combines the firm's automated technology platforms with loan-level audit expertise.

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.