Compliance & Regulation

The Dodd-Frank Reform Act is an enormous piece of business. It may require over 300 separate rules to be promulgated—and then lenders are going to have to comply with all of them!

The Government National Mortgage Association later this month will start providing MBS investors with new information about the percentage of modified single-family mortgages in its MBS pools.

WASHINGTON — The great stumbling block to getting a mortgage-related covered bond market off the ground in the U.S. continues to be the Federal Deposit Insurance Corp.

First Horizon National Corp. of Memphis late Monday disclosed that it has been subpoenaed by the Federal Housing Finance Agency because of six securitizations involving Fannie Mae and Freddie Mac.

State-licensed loan officers and mortgage brokers know they must pass criminal background checks, but beginning Monday, Nov. 1 they began facing yet another test: a state authorized check on their credit.

The U.S. Department of Housing and Urban Development proposed new regulations to force certain lenders to indemnify or reimburse the Federal Housing Administration for insurance claims paid on mortgages that are found not to meet the agency's guidelines. In addition, HUD's proposed rule would require all new and existing lenders with the ability to insure mortgages on HUD's behalf to meet stricter performance standards to gain and maintain their approval status.

Is there a limit to the maximum number of properties a borrower can finance? What happens when a borrower is trying to refinance his primary residence and has seven mortgages in total on his home and other properties? Find out more here.

The Securities and Exchange Commission wants publicly traded depositories to provide "clear and transparent" disclosures on the impact mortgage buyback and foreclosure reviews will have on their bottom line in future quarters.

Be prepared for Freddie Mac and the Federal Housing Administration to come out with their own loan quality initiatives, said the head of SigniaDocs at the Mortgage Bankers Association’s annual convention in Atlanta.

The Work Number, a service of Equifax, and a source for employment, income and deposit verifications, has launched two new automated products: AuditChek and AccountChek.