Compliance & Regulation

The Securities Investor Protection Corp. urges consumers to be aware of a "phishing" scam where individuals are pretending to be SIPC agents in order to collect money from investors.

Michele SimmsParris sued Countrywide Financial Corp. and Countrywide Home Loans under the Fair Credit Reporting Act to recover for the reporting of what she asserts was false information about her mortgage repayments.

Wipro Gallagher Solutions added an integration to Fannie Mae’s EarlyCheck, a tool that allows lenders to run pre-closing quality control checks on mortgage applications, to its NetOxygen loan origination system.

The chief executive of a major real estate brokerage firm is urging President Obama to hold a White House summit to gather recommendations and ideas on how to stimulate the housing market.

CMBS delinquencies in the U.S. have reached a new record high as a result of a slew of new late-pays along with below-average loan resolutions last month, Fitch Ratings analysts said.

American International Group plans to sue Bank of America along with a host of other prominent financial institutions as the insurer seeks to recover losses on mortgage backed securities, according to a report in The New York Times.

A bipartisan group of lawmakers, aided by banking and housing groups, are beginning a strong lobbying push to forestall a scheduled drop in the maximum sizes of mortgages backed by the government-sponsored enterprises.

Although Bank of America entered into a $2.8 billion buyback settlement with Fannie Mae and Freddie Mac late last year, it is looking at additional repurchase claims regarding the two GSEs, according to a new filing with the Securities and Exchange Commission.

As mortgage fraud activity continues to be a persistent problem throughout the country, information and data companies have developed new tools in order to monitor fraudsters and prevent them from stealing not only money from borrowers, but their identity, too.

Wells Fargo & Co. has reached a $590 million agreement to settle civil claims with disgruntled investors in Wachovia-issued securities that were sold between 2006 and 2008, according to a securities filing Friday.