Compliance & Regulation

The city of Richmond, Calif., and Mortgage Resolution Partners told a federal judge that a bondholders’ lawsuit seeking to block it from helping homeowners by seizing mortgages through eminent domain is premature.

Real Estate Services and Technology Report has updated its loan disposition calculation software with the new HAMP guidelines that expand and extend the program through the end of 2015.

The Federal Housing Finance Agency is opposed to the idea of local or state governments using eminent domain to restructure mortgage loans, especially loans involving the GSEs.

Efforts to overhaul the mortgage finance system are gaining momentum, but key logistical hurdles remain as lawmakers prepare to return from the August recess.

A panel including former bank regulator Sheila Bair cautioned that the Federal Reserve must take a clear and steady direction out of its "experimental" monetary policies so as not to further harm the economy.

A Florida title agent and former mortgage broker has been sentenced for her role in a reverse mortgage loan fraud scheme.

An update sent to the monitor of the national mortgage settlement by the five banks that participate in the agreement showing they dispersed $51.33 billion in consumer relief assistance through June 30 is under review.

Fannie Mae was able to extract an $11.6 billion mortgage-repurchase settlement from Bank of America this year because the bank needed Fannie's approval to sell billions of dollars in servicing rights.

Lenders that sell loans to Fannie Mae and Freddie Mac will be responsible for determining their compliance with the qualified mortgage rule issued by the Consumer Financial Protection Bureau.

JPMorgan and Assured reached an agreement resolving the claims this month, according to a filing with the Securities and Exchange Commission dated Aug. 9.