Compliance & Regulation

In recent years, banks have been regularly putting mortgage-backed securities on their books.

MBIA is refusing to provide information requested by the Securities and Exchange Commission including on reserves for GMAC Mortgage and Residential Capital bankruptcies.

Paramount Land Holdings, which is locally funded by the Detroit Police and Fire Pension Fund, purchased foreclosed properties for as little as $10.

One of the biggest concerns among many industry insiders is how and when the shadow inventory of pending foreclosed properties will be released into the market.

Hope Now alliance mortgage servicers, housing counselors and insurers provide assistance to over 300 families affected by Hurricane Sandy in Westbury, N.Y.

HUD officials have agreed to impose a moratorium on an FHA-insured reserve mortgage product, increase downpayment requirements on jumbo loans to satisfy a Republican senator and reduce FHA’s risk profile.

The future performance of the Federal Housing Administration is yet another concern for 2013.

The FHA reform bill would give the Department of Housing and Urban Development more powers to police lenders and require indemnification for bad loans as a way to reduce FHA loan losses.

The National Credit Union Administration has sued a JPMorgan Chase unit claiming Bear Stearns & Co. used misleading documents in selling $3.6 billion in mortgage-backed securities to four corporate credit unions that later failed.

Department of Housing and Urban Development officials are working with a key Republican senator on tightening Federal Housing Administration loan policies to reduce loan losses.