Compliance & Regulation

Two Washington businesses have formed an alliance to work together in order to help clients with legal matters relating to the mortgage banking industry.

Fannie Mae and Freddie Mac have agreed to "single track" delinquent borrowers for at least 120 days before servicers begin foreclosure processing under new loss mitigation guidelines sanctioned by the GSE regulator.

The Federal Trade Commission has mailed $1.5 million worth of refund checks to over 3,100 Hispanic borrowers who received mortgage loans from Golden Empire Mortgage.

A new tool checks Department of Defense records to verify whether defaulted mortgage borrowers are actively serving in the military, providing a regulatory compliance check for servicers while staying within the confines of department policies.

A new tool checks Department of Defense records to verify whether defaulted mortgage borrowers are actively serving in the military, providing a regulatory compliance check for servicers while staying within the confines of department policies.

The European Union (EU) and U.S. regulators might be on the same page when it comes to trying to get the securitization market to be more risk averse. However, their different approaches have left a gap that needs to be eventually bridged, industry sources said.

A class-action complaint has been filed by Berger & Montague PC on behalf of all Pennsylvania homeowners whose mortgage loans have been serviced by CitiMortgage Inc.

MFI-Miami has filed a complaint with the Michigan Attorney Grievance Commission against three attorneys from the law firm of Orlans Associates for attorney misconduct by committing conspiracy and fraud against a cancer victim.

The verdict was against PHH Mortgage Corp. which does business as Coldwell Banker Mortgage. The jury awarded Staff Sgt. David Brash over $21 million in damages consisting of $1 million in emotional distress damages and $20 MILLION IN PUNITIVE DAMAGES.

We support steps to continue the gradual reduction in the size of the portfolios maintained by Fannie Mae and Freddie Mac, and a gradual increase in the amount of the guarantee fees charged by the GSEs.