Compliance & Regulation

When the largest U.S. banks agreed to pay $25 billion last year to settle claims of abusive foreclosure practices, they promised to stop seizing homes from borrowers who had completed applications for mortgage help.

Five years ago this month, the Federal Housing Finance Agency, barely a month old, faced a crisis.

BlackRock, Pacific Investment Management, DoubleLine Capital and other bondholders are asking a court to block a proposal by Richmond, Calif., to seize underwater mortgages through eminent domain.

As more emphasis has been put on quality reviews done as close to the beginning of the origination process as possible, more mortgage market participants have been reviewing more of their loans at that stage.

The Housing Policy Council supports the GSE reform proposal crafted by Sens. Bob Corker and Mark Warner, but it goes too far in requiring guarantors to take a 10% first-loss position on privately issued MBS.

Although risk management has been divided into specialty areas such as quality assurance, quality control, vendor risk management or fraud prevention, many are transitioning toward a more holistic approach.

The Texas state constitution must be amended for lenders to be able to offer the HECM for Purchase product, proponents said.

A credit risk specialist at the Office of the Comptroller of the Currency is warning banks to prepare for increasing losses on their home equity lines of credit over the next four years.

A mortgage fraud ring of professionals operating in Syracuse allegedly obtained more than $1 million from lenders while preying on first-time home buyers and taxpayers.