Compliance & Regulation

The U.S. Supreme Court has decided it "improvidently granted" a writ of certiorari in First American v. Edwards, and has in essence kicked the case back to the trial court.

The operators of an allegedly deceptive mortgage modification business will pay more than $750,000 in ill-gotten gains to settle Federal Trade Commission charges. The settlements also permanently ban the 11 defendants from selling any mortgage assistance relief products.

The Consumer Financial Protection Bureau has issued a final rule to assert its rights to protect the confidentiality of privileged information it collects from the banks and certain nonbanks.

Despite recent advances by credit scoring companies, the mortgage industry still questions whether credit scores can be relied on to predict borrower behavior.

Fitch Ratings has downgraded seven classes from six different Home Equity Conversion Mortgage securitizations.

Fitch Ratings has found that several types of U.S. structured finance assets have been performing way better than expectations, even far better than has been widely reported.

To expedite the legislative process, House and Senate leaders are trying to combine three major bills, including a flood insurance bill, into a single package that both chambers can pass before Congress leaves for its July 4 recess.

The House approved an amendment that would block the Department of Housing and Urban Development from finalizing a proposed rule that would expand the reach of the nation’s fair housing laws.

The Consumer Financial Protection Bureau is planning stronger disclosure requirements for reverse mortgages as more evidence emerges that senior citizens are using the product without fully understanding its main features and risks.

Once the industry realized just how horrible the housing crisis was, discussions about REO-to-rental and deed-for-lease strategies became popular and the debate continues today.