Compliance & Regulation

The Dodd-Frank bill has "eroded" the benefits of the federal thrift charter and it's unclear if existing institutions will "prosper" under the supervision of the Office of Comptroller of the Currency, according to the current thrift regulator.

The 50 state attorneys general investigating the robo-signing debacle are looking at issues regarding the accuracy of information used by servicers in the foreclosure process as well as the imposition of fees and force-placed insurance, according to Iowa AG Tom Miller.

The Treasury Department Tuesday afternoon named two key members to its Consumer Financial Protection Bureau transition team to work on creating a supervisory regime for nonbank lenders and depository institutions.

Among the mortgage market risks Federal Deposit Insurance Corp. chair Sheila Bair has her eye on are recent foreclosure concerns, interest rates, mortgage underwriting and government reallocation away from housing—the last being something she sees advantages to but also acknowledges some potential problems with.

Amid continued weakness for the Federal Home Loan Bank System, its chief regulator said it is committed to getting the regional GSEs back to their core mission of lending to members.

In their first week back since the midterm elections, lawmakers are taking up the robo-signing scandal in multiple venues.

WASHINGTON—Under David Stevens’ lead, the FHA has implemented a whirlwind of reforms, including higher net worth requirements for government-approved lenders, steeper downpayments for borrowers with low FICO scores, and a new mortgage insurance premium structure that was approved by Congress. And he’s not done yet.His focus on reducing credit risk, while ensuring access to FHA financing, has been unrelenting. The commissioner has been tough on enforcement, too. He never forgets to mention that some 1,500 lenders have been kicked out of the FHA single-family program under his watch.

The Federal Housing Administration ended fiscal 2010 with a cash reserve ratio of just 0.50%, a slight decline from the same period a year ago, but strong enough that Congress will not have to use taxpayer money to bolster the fund.

The Federal Deposit Insurance Corp.'s upcoming safe harbor rules could add to real estate investment trusts' relative advantage in the securitized nonagency residential mortgage space.

On Nov 5, ARTHUR GONZALES DIAZ, an Anaheim resident was arraigned on seven felony counts of grand theft and one misdemeanor count of engaging in business as a real estate broker without a license. He is accused of targeting and defrauding Hispanic victims of more than $87,000 in bogus real estate deals. Diaz faces a maximum sentence of eight years in state prison.