Compliance & Regulation

It can be difficult to have enough staff to handle an exchange of mortgage servicing rights, though companies are exploring different solutions

Working as a team with all stakeholders is the only way to successfully maintain a foreclosed property and see it through conveyance to the Department of Housing and Urban Development.

Some nonbanks feel capital requirements discourage diversification among market participants and their participation in the market because they put more constraints on their financial options and bar smaller players.

Since one out of every five households belongs to an HOA, lenders and servicers must understand the necessary rules and regulations and exercise extreme caution when processing these delinquent properties.

Problems related to loan servicing dominate the consumer complaints about mortgage companies made to the Consumer Financial Protection Bureau, but an agency official expressed optimism about the industry's response to these grievances.

Morgan Stanley agreed to pay $2.6 billion to settle probes into its creation and sale of residential mortgage-backed securities, as the U.S. Department of Justice holds another large Wall Street firm to account for the 2008 financial crisis.

BB&T has received subpoenas from the Justice Department tied to a probe of the Winston-Salem, N.C., company's FHA lending.

One in three struggling homeowners who received a loan modification through the Home Affordable Modification Program ultimately redefaulted on those loan.Meanwhile, the program that was supposed to help some 4 million families avoid foreclosure has helped only a fraction of that amount, according to a report presented to Congress.

MetLife Inc. agreed to pay $123.5 million to resolve a U.S. probe into shoddy loans at a discontinued mortgage unit.

Panelists at the MBA's mortgage servicing conference said that the best way for servicers to keep federal regulators off their backs is to be responsive consumer complaints. And if a state attorney general or regulator come knocking, it’s best to be responsive and cooperative.