Compliance & Regulation

Fay Servicing has developed an employee training program that focuses on borrower management skills and teaches new hires how to foster close relationships with mortgage borrowers.

Steven Gluckstern, who’s spent more than a year pushing local governments to seize mortgages from bond trusts to cut balances and help homeowners, is renewing attempts with backing from cities in California and Nevada.

Travis Armstrong has high credit score, but because he owes more than his home is worth and has a private-label loan, he’s stuck paying 7.5% interest.

Flagstar Bancorp plans to shift the focus of its mortgage servicing business to performing servicing assets and outsource its noncore default servicing business.

Rising home prices, fewer delinquencies and a dearth of claims by large bank lenders are helping improve the financial health of the Federal Housing Administration.

Standard &Poor's said statements about the integrity of its ratings are "puffery" that cannot be a basis for the fraud lawsuit.

Sergio Benitez, a real estate developer of affordable housing projects for the New York City Department of Housing Preservation and Development, was sentenced to a 22-month prison term for wire fraud.

Regulators have begun a push to significantly limit, and in some cases completely eliminate, the use of automated valuation tools in property valuation efforts.

Federal Reserve chairman Ben Bernanke said the central bank’s asset purchases “are by no means on a preset course” as he sought to tamp down an increase in borrowing costs that threatens to slow the economic expansion.

Sen. Mark Warner said a Bipartisan Policy Center paper on GSE reform “influenced a lot of our thinking.”