Compliance & Regulation

When Fannie Mae agreed to pay Bank of America $512 million to buy the right to administer 384,000 loans last year, members of Congress questioned the size of the payment to the beleaguered servicer.

The Office of the Comptroller of the Currency issued new guidance to federally chartered banks and thrifts that are lending money to investors who buy real estate owned with the idea of turning those units into rentals.

Two years ago some top ranked LOs were accepting jobs at depositories because they felt secure in working for a lender that had a future. But new LO compensation rules turned out to be more benign than many thought.

Two Citigroup Inc. executives are departing after federal prosecutors named them earlier this year in a mortgage-insurance fraud case.

As of late last year Fannie Mae and Freddie Mac had placed more than 300 high-risk counterparties on watch lists and stopped doing business with more than 40 of them.

State governments in California, New York and New Jersey are consolidating the entity that regulates their mortgage originators into other departments.

In a new letter to the Federal Reserve, the National Association of Realtors declares that underwriting standards remain too tight and the Fed should use its influence to ensure that new mortgage regulations do not further inhibit access to credit.

It is no secret that the changing market landscape has created new opportunities and threats for mortgage bankers.

A U.S. District Court judge in Utah recently awarded $2 million to a group of 28 tenant-in-common investors who were victims of the largest Ponzi scheme to ever occur in the state.

When a jury cleared a midlevel executive of deception in a mortgage securities case it made it clear that the government needs to look higher up the food chain.