Compliance & Regulation

The American Land Title Association has created assessment procedures to help mortgage originators to determine if a title professional meets the seven pillars of its best practices statement.

A Fitch survey revealed that Carrington Mortgage Services has approximately $300 million in principal forbearances that have not been reported as losses.

Wells Fargo has pledged $4.8 million for eligible borrowers who will purchase a home during one of the August homebuyer events scheduled in California’s Inland Empire.

One credit union expert told Congress that credit unions should have a major role in creating and overseeing a proposed federally backed secondary mortgage market agency in the case of a wind-down of Fannie Mae and Freddie Mac.

Michigan Legal Services and five African-American homeowners in Detroit claimed to be victims of Morgan Stanley’s practice of purchasing and financing predatory mortgages, which were later bundled into mortgage-backed securities.

For investors who have thrown big wads of cash toward the “safety” of long-term bonds, the end of low interest rates will not be a welcome one.

UBS agreed to pay $885 million to Fannie Mae and Freddie Mac to settle claims that it improperly sold them mortgage-backed securities during the housing bubble.

This action by the CFPB will likely spur additional complaints by other regulators and borrowers against other companies.

Since the Castle & Cooke case was just filed the outcome remains to be seen.

Freddie Mac may seek credit ratings in the next offering of the firm’s new securities sharing its mortgage-default risks with investors.