Compliance & Regulation

The Consumer Financial Protection Bureau hit Prospect Mortgage with a $3.5 million fine for illegally paying kickbacks to two real estate brokers and a mortgage servicer.

Democrats boycotted the Senate Finance Committee's planned vote Tuesday on the nomination of Treasury Secretary-designate Steven Mnuchin, temporarily stalling it from moving forward.

The Mortgage Bankers Association unveiled a new housing finance reform plan on Tuesday designed to kick-start congressional discussions over what to do with Fannie Mae and Freddie Mac.

A federal appeals court ruled Monday that the Treasury Department will have to hand over more documents to investors of Fannie Mae and Freddie Mac related to its profit sweep of the two government-sponsored enterprises.

Citigroup's plans to sell a $97 billion mortgage servicing portfolio and subservice its remaining accounts highlights the growing prevalence of nondepository servicers and raises questions about how much capacity exists for these institutions to absorb more large deals.

PHH Corp. is opposing an attempt by Democratic attorneys general in 16 states and the District of Columbia to intervene in an appeals court case that found the Consumer Financial Protection Bureau's structure was unconstitutional.

The Federal Emergency Management Agency has tapped Torrent Technologies as a direct service provider for the National Flood Insurance Program.

The new presidential administration has signaled its aim is to pass legislation altering the Consumer Financial Protection Bureau's governing and funding structures, rather than do away with it altogether.

Former Jefferies & Co. managing director Jesse Litvak was convicted for a second time of defrauding customers on trades of mortgage-backed securities — but only on one of 10 criminal counts.

A shortage of appraisers, combined with soaring demand for housing, is causing lengthy delays in Seattle and surrounding markets.