Compliance & Regulation

Real estate portfolios helped boost net mortgage banking income in the fourth quarter of 2013 when it reduced more headcount to offset declining origination volumes.

Revenue exceeded spending by $53 billion last month, compared with a $1.2 billion deficit in December 2012, the Treasury Department said.

The petitions were filed on four assets to preserve current value and realize full potential value through either a plan of reorganization or orderly marketing and sale.

Jan. 10 has brought nine tough new servicing rules from the Consumer Financial Protection Bureau.

The Dutch State Treasury Agency has invited Bank of America Merrill Lynch, Barclays, Citigroup, Credit Suisse, Goldman Sachs and Morgan Stanley to bid on the assets.

The company has an edge because it has been offshoring for more than a decade and also automates a lot of tasks, according to SVP and managing director Jan Sternin.

In order to put the flood of government-related mortgage litigation behind them, banks will be forced to increase their litigation reserves.

The industry coalition needs 60 senators to stop unaffordable rate hikes.

While compliance has been properly viewed by most as merely a cost for lenders, it may very well become an investment critical to engaging in the most profitable form of lending.

Aggregate 30- and 15-year conventional prepayment speeds in December were up from the previous month but by less than expected, and Ginnie Mae speeds also were slower than anticipated.