Compliance & Regulation

Wells Fargo and Citigroup have halted the vast majority of their foreclosure sales in multiple states following the release of new guidance by the Office of the Comptroller of the Currency.

The commission ordered Thomas Richter and Girard Finance Co. to cease discriminatory lending practices and pay a total of $668,951 to seven borrowers for damages plus humiliation and suffering.

The combination of government-sponsored enterprise platforms remains more a concept than a reality.

New compliance requirements don’t typically inspire the most innovative technology enhancements in the mortgage industry. But the upcoming overhaul of borrower disclosure forms has created an opportunity to re-engineer the way lenders and title companies execute mortgage closings, according to Document Systems Inc. CEO Dominic Iannitti.

In the past two years, 85% of Hispanics were engaged in online banking, compared to 74% of all U.S. households.

LendingQB has put the guidelines from four of the six private mortgage insurers onto its loan origination system’s automated underwriting engine.

A large bid list of nonagency residential mortgage-backed securities in the market this week may have been the first move in a regulatory plan for Fannie Mae and Freddie Mac to divest some of its portfolio assets.

The Department of Housing and Urban Development is coming under pressure from House Republicans to issue a policy that would ban the Federal Housing Administration from refinancing any loans that have been seized by a county via eminent domain.

Democrats and Republicans have been at a stand-off over Richard Cordray's nomination two years ago as the GOP fights for structural changes at the agency that Democrats staunchly oppose.

On May 8, four men were convicted in a California court of defrauding hundreds of victims in a real estate scam that included fraudulently collecting upfront fees for loan modification services.