Compliance & Regulation

A New Jersey loan modification company and its owners have agreed to a judgment of $5,051,253 to settle civil charges they defrauded homeowners who sought help in avoiding mortgage foreclosure.

The Department of Housing and Urban Development is selling some seized homes in the Cleveland area for as little as $100.

Fannie Mae and Freddie Mac's common and preferred stock began trading on the over-the-counter market Thursday morning, as directed by their regulator.

After months of raising standards for single-family lenders, the Federal Housing Administration tightened guidelines for multifamily mortgages for the first time in the 40 years it has insured such loans.

Comptroller of the Currency John Dugan said he will step down August 14 after nearly completing his five-year term as the top supervisor of national banks.

Mortgage bankers originated $22.3 billion of Federal Housing Administration backed single-family loans in May, down 3% from April, according to new figures released by the government.

Banker's Portfolio has fed over $10 billion in underwater mortgages through its "decisioning engine" that shows how many loans are eligible for a refinancing under the FHA "Hope for Homeowners" program.

Standard & Poor's has changed its outlook on the future prospects of the Seattle Federal Home Loan Bank to "negative" from "stable," citing risks posed by its private-label securities portfolio and the bank's capital position.

Fannie Mae and Freddie Mac--the Congressionally chartered mortgage giants that provide liquidity for 70% of all residential loans funded in the U.S.--are done. They have no friends in Congress and Republicans (and plenty of Democrats) blame them for creating the housing bubble.