Compliance & Regulation

Since March 1, the servicing banks have assisted 554,400 borrowers with principal reductions, loan modifications, refinances and other forms of relief.

Federal Reserve Bank of St. Louis president James Bullard said unemployment may drop to 6.5% by the middle of next year and prompt the central bank to raise its benchmark interest rate from near zero.

Despite early industry efforts to establish recommended industry standards for private-label residential mortgage-backed securities representations and warranties, some issuers are trying to diversify their approaches.

Iceland’s biggest mortgage bank said the government would bail out the lender before it’s unable to honor its debts.

There were almost 2 million fewer Americans underwater on their mortgage at the end of the fourth quarter compared with the same time in 2011.

The delinquency rate on single-family loans fell nearly 50 basis points during 2012 to the lowest level since 2008.

Toll Brothers tumbled the most in four years after reporting fiscal first-quarter earnings that trailed analyst estimates and projecting narrower margins.

The Federal Housing Administration will soon be launching a new loss mitigation waterfall to further emphasize its Home Affordable Modification Program in hopes of further reducing foreclosures.

Federal Reserve meeting minutes showed policy makers continued to debate when to start trimming debt purchases.

Organizations need to implement a change management office to help guide new initiatives and efforts.