Compliance & Regulation

Interthinx revealed in its latest Mortgage Fraud Risk Report that occupancy and employment fraud continue to be a major problem nationwide.

The Federal Reserve published for public comment a proposed rule amending Regulation Z (Truth in Lending) to implement amendments made by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

A Minneapolis federal jury recently convicted a man who was part of a conspiracy to swindle mortgage lenders out of more than $43 million.

The Basel Committee on Banking Supervision finalized its review of the Basel III standard for capital treatment for counterparty credit risk in bilateral trades and plans to modify the risk weighting of credit valuation adjustment (CVA), which is the risk of loss caused by changes in the credit spread of a counterparty due to changes in its credit quality.

U.S. Bancorp Chief Executive Richard Davis should be happy that his company will escape having to pay a hefty fine for sloppy servicing practices, a fate that likely awaits the nation's top five mortgage servicers.

For the past few years there has been a constant barrage of negative news on loss mitigation. Neither borrowers, nor investors, nor servicers are happy with how the financial crisis has unfolded.

At the annual SourceMedia Mortgage Servicing Conference in Dallas, attendees concerned about the future of their industry discussed at length the pros and cons of recent regulatory changes and still pending rules and requirements they may have to abide with in the near future.

Relaxing regulatory parameters for "qualified residential mortgages" could significantly increase the percentage of loans that are exempt from risk retention, according to a new comment letter from Amherst Securities Group.

The Mortgage Bankers Association has stepped up its advocacy of electronic signatures, sending an open letter to the acting commissioner of the Federal Housing Administration requesting the Department of Housing and Urban Development’s home finance unit begin accepting e-signatures on all loan documents.

Ellie Mae has hired Parvesh Sahi to serve as vice president of compliance solutions, overseeing development of Ellie’s acquisition of compliance software provider Mavent.