Compliance & Regulation

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.

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."

The White House wants to extend the tax deductibility of mortgage insurance payments by consumers.

Bad: When a newspaper ridicules your CEO for wrongful foreclosures.Worse: When the foreclosure was initiated by another company.

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.