Compliance & Regulation

1st Alliance has ceased lending activities following the loss of bonding in Connecticut, plus financial concerns it links to a state regulatory dispute, but it may later seek to recapitalize.

A West Philadelphia real estate developer who bribed a city official to get an inside track on sheriff's sales was sentenced to serve one month in federal prison, followed by nine months of home confinement.

The Federal Housing Administration updated its lender certification proposal originally issued this past May, as it looks to ease industry concerns on False Claims Act enforcement.

The industry has long worried that the ability-to-repay rule gives borrowers an avenue to fight foreclosure, but one plaintiff’s experience may discourage others from trying.

Angel Oak is now offering mortgage brokers and correspondent loan sellers a prequalification tool to determine borrower eligibility for non-qualified mortgages.

Fannie Mae and Freddie Mac's corporate debt ratings shouldn't be downgraded in the near term as a result of the Treasury Department's to-be-released government-sponsored enterprise reform plan, Fitch Ratings said.

The monthly volume of new mortgage securities insured by Ginnie Mae remained higher than it has been in more than two years in July, rising slightly on a consecutive-month basis.

Genworth Financial agreed to sell its Canadian unit to Brookfield Business Partners for C$2.4 billion ($1.8 billion) as it works to win regulatory approval for its acquisition by China Oceanwide Holdings Group.

With the agency mulling changes to the “Qualified Mortgage” regulation, mortgage lenders say little-known standards for how they document a borrower’s income would be a good place to start.

Genworth Financial's efforts to advance its sale to China Oceanwide hit a roadblock as bondholders did not respond to a consent solicitation for easing a possible Canadian mortgage insurance unit sale.