Compliance & Regulation

However, the American Bankers Association, Consumer Mortgage Coalition, Independent Community Bankers of America, Mortgage Bankers Association and the Housing Policy Council of the Financial Services Roundtable have “several concerns” about Phase 2 of the MBS proposal.

In their lawsuit, the funds claimed that the ratings agencies had misrepresented their independence from the banks that sold the mortgage backed securities.

A Florida judge has rejected one of CitiMortgage’s motions to dismiss legal complaints by a borrower related to force-placed insurance coverage.

The House of Representatives passed an immigration bill that uses Fannie Mae and Freddie Mac loan guarantee fees to pay for the new visa program.

Mortgage fraud is still existent during the “quiet period” between when an original credit file is pulled and the closing of a loan.

The acquisition will add more than 1,500 mortgage risk specialists to service provider MphasiS and help the company provide more intense mortgage risk analysis.

If residential lenders didn’t have enough to worry about they now have the “fiscal cliff” and the mortgage interest deduction to lose sleep over.

Federal Reserve Bank of New York president William C. Dudley said the widened yield differential between mortgage-backed securities and primary home-loan rates poses an “impediment” to monetary stimulus.

Prospect Mortgage has been hiring some heavy hitters of late, causing tongues to wag.