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The Federal Reserve Board late last week handed down a new interpretation that places tough compensation restrictions on transactions where the borrower agrees to pay the loan officer of a mortgage brokerage firm directly.
February 15 -
Now that the White House has decided to pull the plug on Fannie Mae and Freddie Mac, the next question becomes: How do you liquidate roughly $1.5 trillion of MBS and whole loans sitting on their books?
February 15 -
The Federal Deposit Insurance Corp. plans to close its West Coast temporary satellite office in Irvine, Calif., by the beginning of next year due to improving conditions in the banking industry.
February 15 -
In response to embarrassing recent revelations that JPMorgan Chase & Co. failed to enforce a law protecting military members from foreclosure and high-cost credit, the nation's third largest mortgage banker announced several significant changes to its practices.
February 15 -
TARP inspector general Neil Barofsky on Monday gave notice that he plans to leave the Treasury Department by the end of March.
February 15 -
Richard Northcutt, a California real estate executive, pleaded guilty in U.S. District Court in Sacramento, Calif., to a conspiracy to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County.
February 14 -
Mortgage Dashboard, an Austin, Texas-based software-as-a-service company that provides on-demand solutions for the mortgage industry working with lenders, credit unions and banks, has added compliance alerts to its cloud-based loan origination system.
February 14 -
Given the high expectations, and long wait, surrounding the Obama administration's proposal to create a new housing finance system, it was likely inevitable that it would disappoint. Critics said the plan was tepid, scant on key details and, in the words of Sen. Richard Shelby, "lacked a sense of urgency."
February 14 -
The White House wants to extend the tax deductibility of mortgage insurance payments by consumers.
February 14 -
Bad: When a newspaper ridicules your CEO for wrongful foreclosures.Worse: When the foreclosure was initiated by another company.
February 14
