Compliance & Regulation

A former Rhode Island state senator and North Providence real estate attorney has been sentenced to 27 months in federal prison for bank fraud.

In several different venues Friday morning, Treasury Secretary Timothy Geithner defended the administration's decision not to offer a full-fledged plan for the future of the housing market, insisting that Congress had only asked for an array of options.

The Federal Reserve Board announced that it does not expect to finalize three pending rulemakings DOES under Regulation Z, which implements the Truth in Lending Act, prior to the transfer of authority for such rulemakings to the Consumer Financial Protection Bureau.

Federal Reserve Board Gov. Sarah Bloom Raskin believes the mortgage servicing industry needs to overhaul its practices and be more accountable, delivering the central bank's toughest words to date on the subject.

The Securities and Exchange Commission late Friday charged three former senior executives of IndyMac Bancorp with securities fraud for misleading investors about the alt-A giant's deteriorating financial condition.

As the "third" housing GSE, the Federal Home Loan Bank System also is slated for downsizing under the Obama administration's plan for restructuring the residential finance system.

After receiving notice that he’s under investigation by the Securities and Exchange Commission, CoreLogic Chief Financial Officer Anthony "Buddy" Piszel resigned late Thursday.

Not only is the Obama Administration pledging to wind down Fannie Mae and Freddie Mac over the next seven years, but its new plan makes it clear that it will constrain the growth of the Federal Housing Administration's single-family loan program.

Increased oversight should help the Federal Housing Administration sell more repossessed homes quickly, and at the right price.

The Department of Housing and Urban Development is planning to increase annual premiums for FHA-insured loans by 25 basis points in April.