Compliance & Regulation

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.

The founder and part owner of appraisal management vendor AppraiserLoft resigned as CEO this week, saying he wants to pursue new business ventures in mobile technology application development.

The National Association of Independent Housing Professionals plans to set up a legal fund to help residential loan brokers defend against buyback claims being filed against them by the Federal Deposit Insurance Corp.

Veros Real Estate Solutions will host a free webinar on extracting data from PDFs, with a special emphasis on the new appraisal delivery requirements of the government-sponsored enterprises' Uniform Mortgage Data Program.

Fannie Mae posted a net loss of $5.2 billion in the second quarter and Friday morning requested that the Treasury Department provide it with $5.1 billion of additional funds to keep its capital position in the black.

New York Attorney General Eric Schneiderman has petitioned to intervene in the proposed $8.5 billion Bank of America Corp. private label MBS settlement.

The Department of Housing and Urban Development has reached a settlement with Bank of America that releases the company from liability for failing to adequately provide alternatives to foreclosure on 57,000 delinquent government-insured mortgages.