Compliance & Regulation

The district attorneys in three California counties sued over the use of the Transaction Point system.

The Treasury Department and members of Congress are preparing to move forward with plans to expand government-backed refinancing programs to underwater homeowners whose loans are packaged in private-label securities.

Sen. Elizabeth Warren and Rep. Elijah Cummings have asked banking regulators to produce documents to show what was behind this month’s settlements with 13 mortgage servicers for faulty foreclosures.

We’ve heard many times that the true cause of the mortgage crisis was government meddling in the market to ensure lending to low-income and minority applicants who couldn’t pay it back.

Lender Processing Services has agreed to pay 44 states and the District of Columbia $121 million to settle claims of unlawful foreclosure practices.

The House Financial Services Committee will hold two hearings on the financial condition of the Federal Housing Administration single-family program.

The HECM Saver will be the only fixed-rate reverse mortgage product available to seniors starting April 1, according to the Federal Housing Administration.

FloodInsights is now offering lenders and others a sinkhole search report for Florida properties.

The Securities and Exchange Commission is likely to continue filing cases tied to residential-mortgage-backed securities.

As the mortgage market increases the use of upfront automated audits to comply with regulation, homeowners are being offered the opportunity to review whether lenders and servicers are up to the task.