Compliance & Regulation

FBC Mortgage, a unit of the investment bank Sterne Agee Group, is seeking loan referral partnerships with community banks. In a recent deal it also hired HomeBanc's mortgage personnel.

The Mortgage Forgiveness Debt Relief Act played a key role in helping underwater homeowners keep their homes after the crash. But it may also have unwittingly encouraged strategic default.

Sens. Tim Johnson, chairman of the Banking Committee, and Mike Crapo, the top Republican, laid out a preliminary bipartisan agreement on housing finance reform after months of deliberation.

Fannie Mae and Freddie Mac could return $179 billion in profits to taxpayers over the next 10 years if they continue operating under federal conservatorship, according to White House budget analysts.

Keith Pedigo, who led efforts to modernize the Department of Veterans Affairs home loan guarantee program, has joined The Collingwood Group, founded by a former FHA commissioner.

The bank likely was worried about dealing with sellers who did not have the net worth to buy back loans.

USMI, successor to the Mortgage Insurance Cos. of America, says its top priority is to make sure whatever system replaces Fannie and Freddie uses at least as much private coverage.

A former managing director at the New York investment banking firm Jefferies & Co. has been convicted of multiple offenses involving a scheme to defraud customers trading in residential mortgage-backed securities.

Over the last year several decisions and regulatory actions suggest industry standards are soon going to become the way of life for lenders.

As interest rates increase, prepayment speeds are falling precipitously, extending the maturities of mortgage-backed securities, especially the guaranteed variety. This trend is likely to cause future declines in MBS values.