Compliance & Regulation

A consumer advisory issued by the Consumer Financial Protection Bureau on Wednesday is stoking fears that the agency may be inadvertently encouraging borrowers to challenge their lenders in court after new mortgage rules go into effect next month.

The new feature will reduce errors and lender risk by ensuring the loan meets investor eligibility guidelines before it is too late in the process.

Sixty-three percent of lenders have an electronic document solution in place, the ninth Path to Paperless survey from Xerox finds.

The Federal Reserve plans to reduce the amount of mortgage-backed securities it is buying per month by about 12%.

As malware and virus detection gets more advanced, financial firms may find their IT departments overwhelmed by the volume of “suspicious activity” alerts that have to be investigated.

The company will originate loans through its call center and the wholesale and correspondent channels.

An unprecedented annual jump in Internet mortgage banking transactions coupled with a 50% increase in mobile banking is profoundly changing retail bank operations and customer retention practices across the U.S., according to Accenture.

Freddie Mac estimates multifamily securities issuance will hit a record $28 billion this year but continued regulatory constraint could threaten future growth.

Ronald Hurst will serve two years in prison for conspiring to commit bribery and wire fraud in a scam that affected the U.S. Department of Veterans Affairs Mortgage Guarantee Program.

Stenwyn Joseph previously had oversight of a team of portfolio managers and analysts managing risk and return associated with mortgage servicing rights at OneWest’s predecessor, IndyMac Bank.