Compliance & Regulation

Bank of America Corp.'s Merrill Lynch unit will pay $15.7 million to settle a U.S. regulator's allegations that it failed to properly supervise traders who persuaded clients to overpay for mortgage bonds by misleading them about how much the firm paid for the securities.

Federal law enforcement authorities have arrested 74 people in this country and abroad, accusing them of participating in a wire fraud scam whose victims included real estate attorneys and settlement service providers.

The agency proposed new minimum capital requirements for Fannie Mae and Freddie Mac that would only go into effect if the government ends its conservatorships.

Groups representing banks, credit unions, the housing industry and others argue in favor of a bill requiring the CFPB to issue timely guidance on its rules.

Genworth Financial's mortgage insurance business, which had slipped in market share, has more certainty about its future prospects after a federal government committee approved the holding company's acquisition by China Oceanwide.

Private mortgage insurance was used on approximately 4% fewer loans in 2017 when compared with 2016, according to the U.S. Mortgage Insurers.

The acting director cited the size of advisory boards and some members’ reticence among reasons for his decision.

Federal authorities charged a third real estate investor with bribery-related offenses in a long-running corruption probe of the process through which the Philadelphia Sheriff's Office sells seized and foreclosed properties.

Acting CFPB Director Mick Mulvaney wrote in a two-paragraph filing that the Mount Laurel, N.J., company did not violate the Real Estate Settlement Procedures Act.

Two Orange County, Calif., men were to federal prison for their part in a mortgage scheme that led to the fraudulent purchase of more then 100 condominium units and $10 million in losses.