Compliance & Regulation

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.

Lenore Albert, a plaintiff's lawyer in Huntington Beach, Calif., says the consent orders federal regulators recently issued against the largest mortgage servicers gave her "another tool" to fight foreclosures.

The Federal Housing Administration has selected 18 lenders to test borrower demand for loans that can make their homes more energy efficient.

Lee Farkas isn’t exactly a household name in America, but this week he became the first mortgage executive of a once top ranked lender to be found guilty of a fraud with its roots in the housing bust.

The head of a county land registry in Massachusetts is requesting his office close its deposit account with Bank of America in protest of the bank’s affiliation with MERSCorp Inc., which runs the Mortgage Electronic Registry System.

Wells Fargo Home Loans is telling its correspondent lenders and brokers they cannot vary the compensation they pay their loan officers based on the mortgage product.

The Federal Reserve Board this week began soliciting public comments on a proposed rule that would give mortgage lenders two ways to show they have sufficiently vetted a consumer's "ability to repay" a mortgage.