Compliance & Regulation

From Biblical times to the present, fraud has been the key factor in all financial crises. But there is one financial instrument that, if used correctly, can bring equilibrium to fraud-impacted markets.

Thomas Provenzano, a Connecticut man who in January pleaded guilty to real estate fraud, was sentenced to 18 months imprisonment to be followed by five years of supervised release.

Supreme Court justices appeared skeptical of both sides during oral arguments on Monday in a case that could shape whether regulators have to ask for public feedback before significantly changing a rule.

Genworth Financial Inc. fell in New York trading as JPMorgan Chase & Co. cut its price target, citing a reserve shortfall at the insurer.

Starwood Waypoint Residential Trust plans to offer $505 million of debt tied to its rental properties in its first bond sale, according to a person with knowledge of the transaction.

Freddie Mac announced its first K-deal that includes a manufactured housing community loan.

Credit Suisse Group settled a three-year-old lawsuit by Assured Guaranty accusing the bank of misrepresenting the quality of loans in mortgage-backed securities it insured.

Wells Fargo & Co. targets black and Latino borrowers for more costly home loans than their white counterparts in the Chicago area, helping to prolong a local and national foreclosure crisis, the biggest county in Illinois said.

While the lawsuit may not succeed, lenders should carefully evaluate adherence to required loss mitigation procedures on Department of Housing and Urban Development loans.