Compliance & Regulation

SAS Security Intelligence software provides fraud prevention and security protection in a single platform operating across all delivery channels and an entire bank's business.

The first baseline report detailing progress under the $25 billion servicing settlement will be issued by the end of the month, according to the independent monitor appointed to oversee the agreement between five major servicers and 49 states.

The president of the Mortgage Bankers Association is worried that new regulations and ongoing enforcement efforts are restricting access to affordable conventional credit for minorities.

Among the issues to be considered in creating the right match between lender and provider is culture, capability and flexibility

Small servicers that already operate on razor-thin margins would essentially be subject to many of the same requirements that came out of the $25 billion mortgage settlement struck early this year between regulators and the five largest bank servicers.

Fannie Mae and Freddie Mac have expanded efforts to get refunds on soured mortgages, boosting the cost of faulty home loans at the biggest U.S. banks since 2007 to at least $84 billion.

Regulators define a "high risk" mortgage as any first lien where the annual percentage rate exceeds the average prime offer rate by 1.5%.

The debate inside the Republican Party over the future of Fannie Mae and Freddie Mac has taken a right turn with Mitt Romney's selection of Rep. Paul Ryan as his running mate.

So far this year, 39 banks have shut down. This is down substantially from 61 and 108 that closed during the same time period a year ago and through July 2010, respectively.

Chicago Mayor Rahm Emanuel on Tuesday shot down the idea of using eminent domain to seize underwater mortgages.