Compliance & Regulation

As fictional character Gordon Gekko once said, “Greed, for lack of a better word, is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures, the essence of the evolutionary spirit.”

Frost National Bank recently won a District Court case in Dallas where it claimed more than $9.5 million in a commercial lending dispute.

By participating in two separate mortgage schemes, Stephen Kottage has pleaded guilty in U.S. District Court of Connecticut to two counts of conspiracy relating to these fraud cases.

House Financial Services Committee chairman Spencer Bachus, R-Ala., on Monday said he is trying to forge a consensus on GSE reform legislation based on several bills already approved by a subcommittee.

Under sections 202 and 536 of the National Housing Act, HUD may impose sanctions, including civil money penalties, for misuse of the terms “Federal Housing Administration,” “Department of Housing and Urban Development,” “Government National Mortgage Association,” “Ginnie Mae,” the acronyms “HUD,” “FHA,” or “GNMA,” or any official seal or logo of the Department of Housing and Urban Development.

John Dickinson may have been more eloquent when he wrote the "Liberty Song" in 1768. But David Stevens, the new president and chief executive of the Mortgage Bankers Association, emphasized the same point at the group's annual secondary market conference in New York.

State-licensed mortgage companies must file a new quarterly Mortgage Call Report by May 15 that will list their loan officers along with origination data.

MERS looks like it will prevail when it comes to questions about the validity of assignments where it is involved, but some think it may “lock down” its procedures as a result of the concerns.

It will take a decade or more to work out all the kinks in the forthcoming merger of the Truth in Lending and Real Estate Settlement Procedures Act into a single, integrated disclosure, a top banking industry official said.

In my former role as deputy assistant secretary for risk management and regulatory affairs and FHA’s chief risk officer, I oversaw FHA’s enterprise risk management functions in a division encompassing all of its business lines, including single family, multifamily and healthcare.