Compliance & Regulation

The Federal Housing Finance Agency is on the verge of filing a barrage of civil claims against investment banking firms that packaged nonprime loans into mortgage-backed securities while misrepresenting the quality of the underlying collateral, according to a new published report.

The Federal Reserve Thursday afternoon slapped Goldman Sachs with an enforcement action, saying its Litton Loan Servicing division engaged in a "pattern of misconduct" tied to robo-signings.

Goldman Sachs & Co. can complete the sale of its mortgage servicing subsidiary to Ocwen Financial Corp. now that the parties have agreed to a settlement with the New York superintendent of banks over alleged abusive services practices, according to a report in The Wall Street Journal.

Appraisers will be following new procedures for gathering and reporting property data starting Thursday, as Fannie Mae and Freddie Mac move forward with the appraisal requirements of their Uniform Mortgage Data Program.

Some of the largest mortgage servicers are still fabricating documents that should have been signed years ago and submitting them as evidence to foreclose on homeowners.

The Securities and Exchange Commission believes that mortgage real estate investment trusts are beginning to look more like mutual funds and has initiated a review of their exemption from the Investment Company Act.

Congress begins its fall session on Tuesday and lawmakers will have only a few weeks to act before the authority of the Federal Emergency Management Agency to issue new flood insurance policies expires on Sept. 30.

Municipalities are increasingly holding mortgage securitization trustsliable for the upkeep of properties, which could affect investors'cashflows, according to a new report from Moody's Investors Service.

Even if the White House can pull off a large scale refinancing program to help troubled homeowners it likely won't help the mortgage insurance industry much, according to a new report from FBR Capital Markets.

The percentage of early defaults on FHA-insured loans originated by MortgageIT “skyrocketed” after it was acquired by Deutsche Bank in 2007, according to an amended complaint filed by New York U.S. Attorney Preet Bharara.