Compliance & Regulation

Congressional demands for the Federal Housing Administration to improve transparency, data accuracy, and legacy technology platforms have been backed by additional resources allocated to the effort.

On Tuesday morning a Federal judge will hear arguments from the National Association of Mortgage Brokers and the Federal Reserve concerning a new motion filed by NAMB seeking a temporary restraining order against the central bank's loan officer compensation rule.

Federal banking regulators began leaking copies of their much anticipated mortgage risk retention rules on Monday — with very few surprises contained in the final proposed language except for one: where Fannie Mae and Freddie Mac fit in.

Based on a recommendation from the Department of Housing and Urban Development, the Office of the Inspector General has audited the underwriting of a $45.6 million mortgage loan that was acquired by Deutsche Bank on behalf of Berkshire Mortgage Inc., to rehabilitate the Wingate Towers and Garden Apartments in Washington.

A federal judge said Deutsche Bank AG and a unit of BNP Paribas SA can proceed with legal claims against Bank of America, according to a report by Dow Jones.

The Department of Housing and Urban Development late last week issued RESPA guidance to help lenders and settlement service providers fill out the 'Good Faith Estimate' when the Federal Reserve's loan officer compensation rule goes into effect later this week.

As Neil Barofsky leaves office, he isn't so much burning bridges as blowing them to smithereens.

Mortgage fraud risk is highest in areas with the greatest amount of foreclosures, according to the annual mortgage fraud risk report developed by Interthinx.

Four states are considering legislation that would prohibit or restrict appraisers from using distressed sales, such as those of foreclosed properties, as comparable sales when assessing the value of a home.

Fidelity National Information Services Inc., a provider of banking and payments technology, has installed the FICO Falcon Fraud Manager 6 platform as part of its fraud alert management system.