Compliance & Regulation

A U.S. District Judge sentenced a New Jersey man for his role in a $15 million mortgage fraud scam.

FHA tries to clarify what loan defects will bring the harshest penalties to guide lenders and instill more confidence.

A technical error made by the Consumer Financial Protection Bureau has become a saving grace for lenders who had pushed, begged and pleaded for more time to comply with a new mortgage disclosure rule.

It turns out the Consumer Financial Protection Bureau's failure to file a two-page form to Congress on time was the unspecified "administrative error" that delayed the effective date for new mortgage disclosure rules.

WASHINGTON — After months of declining industry and congressional pleas to delay an impending rule combining two mortgage disclosure regimes, the Consumer Financial Protection Bureau on Wednesday announced a two-month delay due to an "administrative error."

Six servicers were cited for a range of infractions, including a failure to respond to requests for loan modifications and not doing enough to prevent foreclosures. Punishment was harsh for Wells Fargo and HSBC, which are banned from acquiring mortgage servicing rights and entering into new servicing contracts.

Six banks including JPMorgan Chase and Wells Fargo have been placed under further business restrictions after the Office of the Comptroller of the Currency determined they had yet to fully meet regulatory orders related to the independent foreclosure review which began in 2011.

Barclays is ending trading in $700 billion of U.S. mortgage bonds that were issued before the financial crisis.

A Virginia man on Monday pleaded guilty to federal charges tied to bogus real estate transactions conducted between 2006 and 2007.

The legal challenge to the government's bailout of Fannie Mae and Freddie Mac is not necessarily a slam-dunk victory, despite an apparent favorable legal ruling in a similar case, analysts at KBW said.