Compliance & Regulation

Franklin American Mortgage Co. told its loan brokers that beginning Aug. 1 the firm will only compensate them using the “lender paid” model.

Banks frequently respond to questions from loan officers complaining that a local competitor has a more "aggressive" compensation plan.

As originally designed, the Fed’s compensation rule tried to ensure that loan officers didn’t have any monetary incentives to steer borrowers into high-cost loans.

On July 17, an indictment was issued in New Jersey charging 11 individuals from five states a for their alleged roles in a $15 million mortgage fraud scam that used phony documents and straw buyers to make illegal profits on overbuilt condos, including a defendant who attempted to murder a witness to the scheme.

What's a mortgage loan originator to do when he discovers that one of the trade lines in an applicant's credit report actually belongs to a relative with a very similar name?

New advances are providing technology to mortgage industry and secondary market participants that allows them to access detailed information about residential mortgage-backed securities.

Although there still are risks to be accounted for, Wayne Tew believes this is a good time to be in the mortgage business.

A bipartisan bill that would permit regulators to grant federal charters to nonbank consumer lenders is being met with fierce resistance.

The California attorney general said three business owners who ran a national loan modification scam for over a year have to pay a least $4 million in restitution.

The Consumer Financial Protection Bureau is setting up special advisory boards to get input from small banks and credit unions on regulatory policies.