Compliance & Regulation

Rep. Spencer Bachus was formally selected by the Republican Steering Committee on Tuesday to serve as chairman of the House Financial Services Committee next year, beating back a challenge from Rep. Ed Royce, R-Calif.

A new business process management software creates rules and checklists for servicers to ensure the cases they take to foreclosure meet compliance guidelines—technology that developer Pegasystems says protects servicers and lien holders from faulty foreclosure processes and speeds up the time it takes a property to transfer to real estate owned status.

The Rural Housing Service is tightening its indemnification policies to improve compliance with its lending guidelines.

The National Community Reinvestment Coalition plans on challenging the policy of certain lenders that require higher credit scores on Federal Housing Administration-insured loans than the agency itself requires.

Real estate construction and development oversight appears to be one of the areas where demand for a highly specialized, preventive approach to regulatory compliance and fraud management is picking up.

PennyMac Mortgage Investment Trust and its servicing division said it disagrees with recent findings from the Georgia Department of Banking and Finance regarding its activities in the state but offered little in the way of details.

One strong current of thought since the Republicans’ impressive showing in the recent House elections has been to privatize Fannie Mae and Freddie Mac. It would certainly fit in to a “less government” ethos and it’s an easy enough concept to think of.

Securities fraud class action cases tend to be rare courtroom trial experiences that have some "red flag" warnings for those who may not be on trial yet. It is even more so during a crisis.

The economic recovery should accelerate gradually throughout 2011, with the second half of the year exhibiting more growth and job creation than the early part, according to Freddie Mac chief economist Frank Nothaft.

Until recently, much of the attention surrounding so-called "put-back risk" has focused on the legal aspect, notably whether judges will require lenders to repurchase loans they sold to securitizers.