Compliance & Regulation

The Senate Banking Committee has scheduled a hearing that will delve into the fundamentals of the private-label MBS market.

JPMorgan Chase’s negotiations with federal and state authorities to resolve a series of investigations tied to mortgage bonds are focusing on a potential $11 billion figure.

The Federal Housing Administration will take a $1.7 billion draw from the U.S. Treasury to shore up its books at the end of the fiscal year, the first transfer it has required in its 79-year history.

Master servicers are consistently finding a “material” lack of current appraisals in delinquent commercial mortgage-backed securities loans.

A DOJ complaint alleged that Southport Bank charged hundreds of African-American and Hispanic borrowers higher fees than white borrowers on wholesale mortgage loans.

A former official at Bank of America Corp.’s Countrywide unit who filed a whistle-blower suit testified that in mid-2007, a unit of the lender created a business model that approved a home mortgage loan in 13 minutes.

The government-sponsored enterprises are leaving billions on the table by not going after deadbeat borrowers who may have the wherewithal to make good on their mortgages but failed to do so.

If the consumer pays a loan originator organization, the organization is allowed to pay a commission to the individual LO who originated the transaction.

A mortgage software provider recently launched a tool that unifies compliance tracking and rules application within a common management framework to monitor if a loan is delinquent.

Richard Cordray has a new tool (toy), and like it or not, he plans to share it with all of us.