Compliance & Regulation

JPMorgan Chase has agreed to a $50.4 million settlement with the Justice Department for robo-signing documents sent to homeowners in bankruptcy and for related abuses.

An overlooked issue in the plan to reform Federal Home Loan bank membership could inadvertently jeopardize the local focus of the system by allowing insurance companies to apply for membership in any of the 12 districts.

The concept that lenders need to have systems in place to affirmatively detect and redress problems before consumers are affected is very real and lenders should ensure their systems are up to the task.

Morgan Stanley said New York Attorney General Eric Schneiderman intends to sue the company, alleging it misrepresented or omitted information when underwriting 30 subprime securitizations.

From new compliance scorecards to rethinking how to deal with consumer complaints, there's plenty to debate about the future of servicing. Here's a look at the most insightful and noteworthy discussions from this year's Mortgage Bankers Association servicing conference.

An audit of Ginnie Mae financials identified four "material weaknesses" and one "significant deficiency," primarily related to the accounting of $6.6 billion in defaulted loans made by the failed lender Taylor, Bean & Whitaker.

Embattled mortgage servicer Ocwen Financial faces up to $26 billion in damage claims by bondholders and a greater risk of being fired as a mortgage servicer on thousands of small, private-label trusts.

Having the extra time for implementation has been helpful because mortgage companies were experiencing difficulties meeting the first deadline for the change in procedure, which affects government-insured reverse mortgages.

Ocwen Financial Corp., the mortgage servicer under attack for its handling of home loans, slumped the most in more than a month after receiving notices that it was being fired from overseeing debt backing two bond deals.

Although lenders received some good news via Freddie Mac's February U.S. Economy and Housing Market Outlook, raising the enterprise's 2015 originations forecast from $1.2 trillion to $1.3 trillion, the Aug. 1 TILA-RESPA Integrated Disclosure rule implementation deadline still looms large.