Compliance & Regulation

Connecticut Attorney General Richard Blumenthal has asked Ally Financial to freeze all home foreclosures within its borders, saying his office is investigating "defective" documents filed by the company and its mortgage division, GMAC.

Grapevine visitors discuss a specific situation where a borrower has a foreclosure due to going through a divorce. Find out what advice readers have to give to this banker.

Federal regulators implicitly rebutted the view that banks are refusing to take losses on second mortgages that are current but at risk of default.

A replacement for the Home Valuation Code of Conduct is coming soon and the Federal Reserve Board is also working on new rules for ensuring lenders and others don’t exert undue influence on the appraisal process.

A new study sponsored by the Mortgage Bankers Association says the Dodd-Frank bill could stifle mortgage innovation, and lead to a permanent landscape dominated by 30-year fixed-rate loans.

The Council of Better Business Bureaus and the National Foundation for Credit Counseling are encouraging consumers and small business owners across the country to fight identity theft by taking part in the Third Annual Protect Your Identity Week, Oct. 17-23.

Starting January 1, FDIC-insured institutions will have to retain 5% of the credit risk on newly issued securitizations until the federal banking agencies approve new risk retention standards next year as mandated by the Dodd-Frank Act.

Any mortgage fraud that is being reported today might not get dealt with until at least two years from now because federal agents are still dealing with cases from 2005 through 2008, a pair of Federal Bureau of Investigation agents told attendees at the Northeast Conference of Mortgage Brokers in Atlantic City, N.J.

The Federal Housing Administration had a market share of 3% five years ago. That’s swelled to 10 times that currently. Assuming neither of those figures is optimal, what is the right range of market share for FHA to take down in a more normal market?

It was no small irony that moments after voting to bar corporate credit unions from investing in risky collateralized debt obligations, the NCUA Board gave its approval to a plan to shed as much as $50 billion in toxic mortgage-backed securities held by the corporate system by repackaging them for sale to the public as CDOs.