Compliance & Regulation

The prevalence of short sales is likely the most significant factor impacting foreclosure rate improvements and the housing recovery.

DBRS found in a commercial mortgage-backed securities investor survey that the majority of respondents expect their holdings to increase over the next 12 months despite some concerns about loosening underwriting standards in the sector.

A father and son were sentenced in Newark, N.J., federal court for running a fraudulent foreclosure rescue company that obtained $4.4 million in mortgage loans.

Data indicate atypical economic conditions at the local and national level will lead to atypical new delinquency rates that are bound to slow down the housing market recovery during the rest of 2013.

The new webpage has compliance guides for the qualified mortgage rule, the loan compensation rule, the servicing rule and other mortgage rules along with compliance videos.

An oversimplified but generally useful way of understanding what is included in the 3% cap, is that it is the same as the old definition of “finance charge,” with a few important additions.

For the most part, qualified mortgage/Ability-to-Repay guidelines should provide a level of compliance certainty. But are they still too severe?

Regulators, creditors, accountants and shareholders all have increased focus on this asset. Basel III implementation may further exacerbate this.

The amendment provides certain exceptions to this Dodd-Frank requirement that loan originator compensation be included in the total permissible points and fees for both Qualified Mortgages and high-cost loans.

Homeowners are “under paper” and unable to close on a home sale or refi transaction because a mortgage satisfaction has never been recorded in the public records.