Compliance & Regulation

While most of the attention so far has focused on who will be the director of the Consumer Financial Protection Bureau, would-be employees are increasingly anxious about how and when the agency plans to fill the lower ranks.

FEMA administrator Craig Fugate is urging Congress to act on a multi-year extension of the National Flood Insurance Program to create more stability in the housing market.

On May 28 PHOENIX RESIDENT PAIGE KINNEY, AKA JAIMELEE LAWLER, 42, pleaded guilty in two separate cases in federal district court. In one case, Kinney admitted to her leadership role in a $40 million mortgage fraud involving Countrywide Home Loans, and in the second case, she admitted to committing bankruptcy fraud, bank fraud, and mail fraud.

By early July the Federal Housing Finance Agency is expected to release its long-awaited proposal on changing servicing compensation, offering the industry three initial options, according to servicing advisors close to the matter.

A Texas mortgage broker, Rodney Anderson, has single-handedly pushed for legislation that requires medical bills of $2,500 or less to be expunged from credit reports if the debts have been paid or settled.

With regulators struggling to decide which loans to excuse from risk-retention, Federal Deposit Insurance Corp. Chairman Sheila Bair said Thursday the best option would have been to shelve the exemption altogether.

The comment period ended Wednesday on a proposed rule that would forbid mortgage investors and their servicers from foreclosing in the name of the Mortgage Electronic Registration Systems Inc.

The former president of Home Free Realty Inc was sentenced yesterday to serve 51 months in prison for committing two separate real estate fraud schemes.

Regulators on Thursday laid out guidelines for banks with more than $10 billion of assets on how to approach future stress testing.

The Treasury Department is taking disciplinary action against the residential servicing divisions of Wells Fargo & Co., Bank of America, and JPMorgan Chase for failing to comply with Home Affordable Modification Program guidelines.