Compliance & Regulation

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.

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.