Compliance & Regulation

A couple of warnings, specific to California, but could apply in other states as well.

The default legal services firm Clunk, Hoose & Associates announced that it has opened a new office to serve clients in the South Florida market.

Home Loan Servicing Solutions reported net income of $24.8 million in the first quarter.

The New York Department of Financial Services has entered into a second settlement with an insurer over force-placed underwriting practices.

Ally Bank has completed the sales of $115 billion in unpaid principal balance of agency mortgage servicing rights to Ocwen Financial and Quicken Loans.

Wells Fargo urged a judge to dismiss the U.S. government’s lawsuit claiming the bank made reckless mortgage loans that caused losses for a federal insurance program.

Edward DeMarco, who has served as acting director of the Federal Housing Finance Agency since 2009, is scheduled today to update a Senate panel on the FHFA’s oversight of Fannie Mae and Freddie Mac.

Democratic lawmakers raised numerous concerns over the mortgage servicer settlement announced in January, including how banks are credited for relief they provide to borrowers.

Private mortgage insurance companies may have to meet new standards set by the Federal Housing Finance Agency if they are going to continue to insure loans guaranteed by Fannie Mae and Freddie Mac.

Federal Reserve Gov. Elizabeth Duke said the U.S. economy is strengthening as credit conditions improve in most areas except the mortgage market.