Compliance & Regulation

WASHINGTON — Michigan-based Flagstar Bank will be required to pay $37.5 million in restitution and fines over regulatory allegations it blocked struggling homeowners from receiving foreclosure relief, the Consumer Financial Protection Bureau said Monday.

Recovery rates for liquidated commercial mortgage-backed security loans rose during the first half of this year after reaching historic lows the two previous quarters, according to Fitch Ratings.

This shows that the Consumer Financial Protection Bureau will hold a company responsible for the actions of a third party, regardless of intent, if a consumer is negatively affected.

Fannie Mae and Freddie Mac, which attracted investors such as hedge-fund manager Bill Ackman even as the mortgage giants hand over their profits to taxpayers, are tumbling again.

Commercial real estate lender Walker & Dunlop has added three originators to a conduit and high-yield lending joint venture with Fortress Investment Group.

More community banks are looking to outsource their mortgage operations to reduce the regulatory burden, but structuring such deals – and determining proper compensation – can be tricky. Here's how two Chicago-area lenders solved the problem.

Municipal Mortgage & Equity will change its name to MMA Capital Management LLC, effective Sept. 29.

Whether it's a formal merger/acquisition deal or a loan production office changing affiliations, successfully bringing together the cultures of two organizations is crucial to creating a harmonious union.

Pessimism prevails at this year’s New England Mortgage Bankers Conference.

Bill Gross, co-founder and chief investment officer of Pacific Investment Management Co., will join Janus Capital Group Inc.