Compliance & Regulation

An executive at Calvert Financial in Ashland, Mo., has admitted to using funds from the Troubled Asset Relief Program to buy a luxury condominium.

The federal regulator of Fannie Mae and Freddie Mac is seeking at least $6 billion from JPMorgan Chase to settle a lawsuit over soured mortgage bonds sold to the government-sponsored enterprises.

The concern is that vendors are overbilling borrowers and servicers are not properly monitoring the vendors.

Bank of America must face a trial next month in a lawsuit alleging the bank’s Countrywide unit defrauded Fannie Mae and Freddie Mac by selling them billions of dollars in bad mortgages.

At least in Florida some are seeing a surprise benefit from new regulations—growth in the mortgage broker industry.

The New York attorney general has filed a lawsuit against real estate mogul Donald Trump, Trump University and its former president for engaging “in persistent fraudulent, illegal and deceptive conduct.”

The New York City Housing Development Corp. intends to sell $655 million of capital fund grant program revenue bonds in two series on Wednesday.

Texas A&M University System is preparing to issue $353 million of taxable and tax-exempt revenue bonds for the most costly college stadium renovation in the nation.

The American Bankers Association is warning regulators that many banks will not be able to meet the January effective date for the qualified mortgage rule.

The court issued a memorandum that clarifies the proposal is based on the suggestion of a number of stakeholders involved in mortgage foreclosure cases.