-
Mortgage fraud is not going away any time soon. The FBI has been working with bureaus of investigation in states that recently passed residential mortgage fraud acts to stay abreast of the latest fraud tactics.
August 25 -
The Federal Reserve Board's compensation rule is expected to reduce the use of yield-spread premiums, but that doesn't seem to bother the mortgage brokers.
August 24 -
It took just one sentence in the 2,300-page financial reform law to end federal preemption for mortgage lenders that operate as subsidiaries of national banks.
August 23 -
While the call for the creation of a catastrophic insurance fund for mortgage-backed securities has been gaining ground in recent weeks, two leading Federal Reserve Board economists are poised to push the concept one step further, suggesting a backstop for all asset-backed securities.
August 23 -
A Houston mortgage brokerage firm with 200 branches nationwide said it agreed to pay a $38,000 fine to settle alleged violations of Federal Housing Administration branching rules.
August 23 -
Ranking Democrats on the House Financial Services Committee are encouraging the GSE regulator to continue pursuing claims against Wall Street firms that sold private-label MBS to Fannie Mae and Freddie Mac.
August 20 -
Mortgage servicers completed 36,700 permanent HAMP modifications in July, down from 51,200 in the previous month, according to the Treasury Department.
August 20 -
Lender Processing Services Inc. has formed a strategic partners group to establish a network of default-related service providers.
August 20 -
The new Federal Reserve rule on compensation means new rules for some mortgage originators, explained Ken Jones, vice president of the California Association of Mortgage Professionals.
August 19 -
According to North Carolina attorney general Roy Cooper, a mortgage lender will pay $4.5 million for its role in a scheme to sign consumers to loans they couldn't afford on overpriced modular and manufactured homes.
August 18