Compliance & Regulation

Chris George, CEO of CMG Mortgage, San Ramon, Calif., is one of 13 businessmen picked by the Republican Party to offer a rebuttal of sorts to tonight's job creation speech being given by President Obama.

Former Mortgage Bankers Association chief executive John Courson has joined Treliant Risk Advisors as a senior advisor, a press release from the company said.

Congress wanted to create a large category of high quality residential mortgages that would be exempt from risk retention and easily securitized – but banking regulators have taken the opposite approach, according to Sen. Johnny Isakson, R-Ga.

The Consumer Financial Protection Bureau said Wednesday it is seeking public input on products and services aimed at members of the military and their families.

Congress has imposed numerous checks and balances on the Consumer Financial Protection Bureau's powers, according to Richard Cordray, who has been nominated by President Obama to be the agency's first director.

As settlement talks continue between the states and the megabanks over the robosigning scandal, some of the nation's largest servicers fear they may have a new item to add to their worry list: civil liability tied to the monthly processing of Federal Housing Administration loans.

The Federal Housing Finance Agency is pushing back against claims that Fannie Mae and Freddie Mac were sophisticated investors that should have done a better job of vetting their purchases of mortgage-backed securities.

Many of the country's largest banks received $6 billion in kickbacks from mortgage insurers over the course of a decade, according to a previously undisclosed investigation by the Inspector General of the Department of Housing and Urban Development.

MBS issuers have long enjoyed an exemption from onerous provisions of the Investment Company Act since the start of mortgage securitization in the early 1980s, but all that could change under a new proposal being weighed by the Securities and Exchange Commission.

In a long-awaited showdown over the future of the Consumer Financial Protection Bureau on Tuesday, Republicans and Democrats sparred over whether the Senate should proceed with the nomination of the bureau's first director.