Compliance & Regulation

Real estate valuation provider PCV Murcor has hit its 30-year anniversary.

Carrington Capital Management, a former subprime securitization specialist, salvaged an impressive amount of money from its low-ranked residential mortgage-backed securities, thanks to the unusual strategies of its servicing affiliate.

Investors and analysts have howled over specific mortgage servicers' handling of delinquent loans for years. The ratings industry generally has not.

The National Association of Mortgage Brokers is contemplating suing the Federal Reserve Board over its looming loan officer compensation rule, according to trade group officials familiar with the matter.

The former treasurer of Taylor, Bean & Whitaker, Ocala, Fla., pleaded guilty to criminal charges involving her role in selling "fictitious" mortgages to Colonial Bank, contributing to that institution's failure.

Marvin Bower, the great managing partner of McKinsey & Co. in the 1950s, offered this advice: Direct every action toward building a stronger position for the long term, but take the action now. I think we can apply this advice to addressing the government-sponsored enterprises, Fannie Mae and Freddie Mac, and the huge distortions and losses they have caused.

Michael McGrath, the disgraced former president of U.S. Mortgage Corp. and its CU National Mortgage unit, was sentenced late Thursday to 14 years behind bars for a massive fraud in which he sold $140 million of CU mortgages his company was servicing to Fannie Mae and kept the proceeds.

Freddie Mac late Thursday said Donald J. Bisenius, executive vice president of its single-family credit guarantee business, received a 'Wells Notice,' which means the Securities and Exchange Commission is considering filing civil charges against him.

WASHINGTON — Bank regulators, law enforcement and various other federal and state officials continue to negotiate the proper punishment for more than a dozen large servicers that have mistreated mortgage borrowers.

In a new letter industry trade groups are urging the Federal Reserve to reject a recent staff interpretation regarding its loan officer compensation rule that would restrict payments between mortgage companies and "affiliated" real estate brokerages and title agencies.