Compliance & Regulation

Bank of America Corp. must face a lawsuit filed by a mortgage-bond trustee that seeks the repurchase of home loans backing $1.75 billion of securities, a judge ruled.

Carlyle Group LP won a Delaware Supreme Court ruling that Delaware, not Kuwait, is the proper place to try an investment-contract case with National Industries Group Holding.

A $32 million U.S. Department of Housing and Urban Development grant will be invested in affordable housing for more than 1,300 extremely low-income persons and families living with HIV/AIDS.

California's Department of Insurance recently served a cease-and-desist order on a company that it alleged was engaged in the business of title insurance without a license.

At least one insider finds the anticipated extension of the Home Affordable Refinance Program “may not be as bad” as expected for the residential mortgage market.

Since Wells Fargo Home Mortgage introduced the Home Rebate CardSM program in 2007 homeowners have used their rewards to automatically pay down $50 million in mortgage principal balances.

Allstate, the largest publicly traded U.S. home and auto insurer, sued Citigroup in State Supreme Court in Manhattan in 2011, along with banks including Deutsche Bank AG, Bank of America Corp. and Morgan Stanley.

The Consumer Finance Protection Bureau will allow small banks and credit unions to make balloon mortgages over the next two years even if they are not located in rural and underserved areas.

National Center for Policy Analysis senior fellow Pamela Villarreal, who authored the study, calls reverse mortgages complicated and expensive.

Retail originators and mortgage brokers won’t have to count the compensation they pay their loan officers towards the 3% points and fee cap, according to the Consumer Financial Protection Bureau.