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Two politically potent housing organizations have called on the Federal Housing Administration to relax its rule regarding condominiums.
June 1 -
The varieties of mortgage fraud never cease to amaze.At a session at the Texas Mortgage Bankers Association’s annual conference in Austin, attendees heard that mortgage fraud can now be combined with legal fraud.
May 31 -
The Treasury Department is getting tougher on servicers who don't comply with guidelines of the Home Affordable Modification Program and soon will release compliance grades for the 10 largest HAMP servicers.
May 31 -
The Federal Housing Finance Agency is expected to release its long-awaited proposal on changing servicing compensation by July with three main options being offered to the industry, according to servicing advisors close to the issue.
May 31 -
WASHINGTON—Federal regulators are facing a lot of pressure from Congress and industry groups to revise their risk retention proposal.
May 31 -
In the first part of May, a prominent Realtor, her son and daughter-in-law pleaded guilty to an expanding mortgage fraud that enabled them to buy expensive vacation homes at Alabamas Gulf Shores using straw borrowers to qualify for credit union loans. Lenders victimized by the scheme were First Tennessee Bank, U.S. Bank and First Choice Funding.
May 31
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As mortgage fraud becomes a more prevalent issue throughout the country, Credit Plus Inc. has automated its fraud detection tools to help mortgage professionals verify loan application data to detect fraud incidences.
May 31 -
While not a huge fan of reality television, I recently paused to see some knucklehead being dropped from a helicopter into the jungle with just the clothes on his back and a few basic skills. His situation reminded me of the current state of the mortgage industry.
May 31 -
Two women recently pleaded guilty in Federal Court in the District of Minnesota to their roles in a mortgage fraud scheme that defrauded lenders approximately $4.2 million.
May 30 -
Over the past three years seller/servicers have been slapped with upwards of $40 billion in loan buyback claims from Fannie Mae and Freddie Mac, and although these “requests to repurchase” are beginning to wane, the crisis still has some legs to it
May 27
