Compliance & Regulation

Chicago is the first city in the country to agree to share information directly with the Consumer Financial Protection Bureau.

Consumer advocates and mortgage bond investors have alleged that banks and insurers grossly inflate the cost of such policies, overcharging struggling homeowners and investors by hundreds of millions of dollars.

Keep Your Home California will provide mortgage payment assistance to out-of-work homeowners regardless of whether federal extension benefits are extended into 2013.

Dwight Fettig, who has served as the panel's staff director since 2011, is expected to rejoin the lobbying firm Porterfield & Lowenthal.

Some banks will consider making lower FICO score loans as long as the applicant has substantial assets (or home equity) that can be tapped in the event of default.

HUD will interview current employees, ex-employees and borrowers to validate data or its findings.

The Consumer Financial Protection Bureau said it would offer limited time exemptions from current federal disclosure laws in order for those companies to research and test informative, cost-effective disclosures.

The Senate Finance Committee has already passed a bill that extends 27 tax provisions that are due to expire at midnight on Dec. 31.

Fay Servicing has added Personal Budget Analysis to its menu of mortgage borrower financial health analysis options.

Lockhart was indicted in 2009 for allegedly running a scheme that used real estate entities incorporating references to the Cowboys or “America’s Team” into their names and that deployed straw borrowers to get inflated loans for distressed and pre-foreclosure homes in the Dallas area.