Compliance & Regulation

The risk of property valuation fraud may be on the rise, according to a report released Tuesday by Interthinx.

WASHINGTON — Loans for manufactured homes typically come with higher interest rates and fewer consumer protections than more conventional mortgages, the Consumer Financial Protection Bureau said Tuesday.

The nation's largest mortgage originator approved the de novo company for its correspondents and that led to a big increase in third quarter business.

Hispanic borrowers have been shut out of the two-year housing recovery more than other groups in California, denying them the chance to rebuild wealth through homeownership.

The DOJ wants the banks it threatens with litigation to admit accountability, pay hefty penalties and takes steps to satisfy the public thirst for payback. But the financial system would be better served if the bulk of regulation was left to the banking agencies.

BBVA Compass has hired a veteran banker to make sure that the company achieves its Community Reinvestment Act goals.

Citigroup CEO Michael Corbat reflected with Warburg Pincus CEO Joseph Landy and Paulson & Co. CEO John Paulson on the growth paradigm of tomorrow’s financial markets, the role of shadow banking within it and how the world for megabanks has become permanently smaller.

The Consumer Financial Protection Bureau's action against Flagstar Bank on Monday marked a series of firsts for the agency, including the first time it enforced its new mortgage servicing rules and the first time it banned a servicer from servicing new loans until fixes are made.

Essex Property Trust said on Monday that its computer networks have been hacked.

Hefty penalty seems 'puzzling' since the Seattle and Des Moines FHLB merger seems on track to be the first voluntary merger in the 82-year history of the Federal Home Loan Bank System.