Compliance & Regulation

The White House may want to pull the plug on Fannie Mae and Freddie Mac, but it plans on keeping the Federal Home Loan Bank System alive, albeit at reduced capacity.

Wells Fargo & Co. on Friday agreed to refund up to $10 million of mortgage fees to eligible military veterans who refinanced their residential loans with the bank or its affiliates.

The Treasury Department has tapped a former Wall Street managing director to be in charge of the research, markets and regulation arm of the new Consumer Financial Protection Bureau.

MERSCORP, the electronic mortgage registry system, said it will propose a rule to stop its member/users from foreclosing in its name.

The Comptroller of the Currency is preparing to levy civil money penalties against some of the nation's largest servicers for violations of state and local foreclosure laws.

No one has ever accused Marc Savitt of being a wallflower, which is probably a good thing, because anyone who's meek in nature probably wouldn't be taking on the Federal Reserve Board.

Stewart Information Services Corp., Houston, earned $10 million in the fourth quarter as operational efficiencies in its core title business helped to drive an increase in pretax profits over the same period in 2009.

Congress never intended federal regulators to set high down payment requirements on 'qualified residential mortgages,' according to three senators who wrote the original QRM language.

The House Committee on Oversight and Government Reform late Wednesday issued a subpoena, asking Bank of America to hand over all documents related to Countrywide Financial's 'Friends of Angelo' program by March 7.

Federal regulators and state Attorneys General may be close to a settlement with several major mortgage servicers over foreclosure processing violations, according to Federal Housing Commissioner David Stevens.