Compliance & Regulation

The New York Attorney General has selected mortgage securities expert Chad Johnson to serve as chief of the AG’s Investor Protection Bureau.

Bank of America, JPMorgan Chase, Citigroup and Wells Fargo got credit for providing $15.4 billion in relief to roughly 420,000 underwater borrowers last year, according to the settlement monitor.

The Consumer Financial Protection Bureau finalized clarifications Tuesday to its mortgage servicing rules in an effort to ease concerns servicers had about communicating with struggling or bankrupt borrowers who invoke certain legal protections.

The Michigan State Housing Development Authority is investing millions in a statewide campaign that will demolish some of the state’s 78,000 vacant and abandoned properties.

More than five years after sales of U.S. mortgage-backed securities froze, banks, investment firms and others in the business are seeking to accelerate a revival of issuance by reducing mistrust among market participants.

QuestSoft will sell products to banks, credit unions, mortgage bankers and brokers that use Calyx software.

Borrowers still intend to achieve the American dream of homeownership—even if they have to lie to qualify for a mortgage.

As the Consumer Financial Protection Bureau wraps up implementing its voluminous mortgage rules in January, credit unions should not expect any respite from the compliance burden.

The Federal Housing Administration has joined Fannie Mae and Freddie Mac in calling for mortgage lenders to temporarily postpone mortgage payments for furloughed government employees and contractors who have been affected by the shutdown.

The Consumer Financial Protection Bureau is prepping a massive overhaul to its exam procedures designed to make it faster and free up enforcement personnel to pursue their own investigations outside of exams.