Compliance & Regulation

A New York state appeals court overturned a ruling in favor of the Mortgage Electronic Registration Systems, finding Bank of New York did not have standing to initiate a foreclosure.

In a new letter, ten Senate Democrats have asked the Comptroller of the Currency to “consider” servicing standards favored by the state attorneys general as a way to ease foreclosure conditions for struggling mortgagors.

The man considered by many to be President Obama's eventual choice to run the new Consumer Financial Protection Bureau promised that the agency will be "thoughtful" when it officially opens for business on July 21.

The Georgia Department of Banking and Finance this week filed a cease and desist order against DBD Results LLC, Scottsdale Ariz., prohibiting the firm from conducting business within the state.

WASHINGTON—Federal regulators may have to take a different approach in drafting a securitization rule after stumbling in their first effort to define which mortgages are safe enough to exempt from risk retention.

RealEC has rolled out a service that offers lenders the ability to push quality control from the closing table earlier in the process, with loan-level reviews during the origination process.

A top regional official from the investigative arm of HUD said Bank of America "significantly hindered" a federal investigation of the megaservicer’s foreclosure practices, according to a report from Dow Jones.

The Consumer Financial Protection Bureau has hired Christopher C. Haspel away from the Government National Mortgage Association, giving him a top slot at the new agency, according to officials familiar with the matter.

Regulators have extended the deadline for the top 14 mortgage servicers to submit action plans required under consent orders issued in April.

Three firms have filed a class-action lawsuit representing California homeowners who have allegedly been victimized by a network of scam artists taking advantage of individuals facing foreclosure.