Compliance & Regulation

A foundation representing investors in the United States as well as three other parts of the globe said it is taking a shareholder fraud action in a Utrecht civil court related to a major acquisition by Fortis NV, a European company that had been hard hit by U.S. subprime exposures and subsequently went through a government bailout.

Property valuation technology developer Veros said its VeroSELECT valuation management platform has been updated to interface with the Uniform Collateral Data Portal, the still-pending technology platform the government-sponsored enterprises will use to accept appraisal data on mortgages they purchase.

For the past two years, the Federal Deposit Insurance Corp. has maintained a consistent crisis-response posture — bulking up its manpower, swooping in to resolve failed institutions and standing behind their depositors.

A ruling by Massachusetts' highest court Friday repudiating a widespread securitization practice could scuttle other foreclosure cases statewide and may portend similar blows to the industry elsewhere.

WASHINGTON—The National Community Reinvestment Coalition alleges that lenders are blocking blue-collar workers and minorities from getting Federal Housing Administration loans by erecting high credit score thresholds. But the industry has a message for the nonprofit: “We’re just trying to protect ourselves.”

The Federal Reserve Board is publishing an interim rule amending Regulation Z, which implements the Truth in Lending Act. This interim rule revises further certain requirements of the Mortgage Disclosure Improvement Act of 2008.

Massachusetts' highest court on Friday voided foreclosures on two homes because the servicers that tried to take title to the properties failed to show they held the mortgages at the time of foreclosure.

The California Association of Realtors, whose members are frustrated by a dearth of short sales, has created a task force to examine the shortcomings of the government's Home Affordable Foreclosure Alternatives program.

I’m pleased to have the opportunity to join everyone to discuss the findings of the Conference of Mayors’ Hunger and Homelessness Survey. I want to thank each of the 27 cities for participating in this survey, as well as the Conference of Mayors. In doing this survey these last two decades, you have helped us understand what was happening around the nation and prodded us to action.

The Pennsylvania Department of Banking took 114 enforcement actions, mostly related to mortgage activity, during the fourth quarter of 2010.