Compliance & Regulation

Nearly a decade after Troy Wragg's role in a $54 million Ponzi scheme involving green energy and real estate investments in Tennessee was exposed, the former Philadelphia resident was sentenced to 22 years in prison and ordered to pay $54 million in restitution.

After two disastrous fire seasons, California officials have been besieged by homeowners in fire-prone areas complaining that their insurance premiums are skyrocketing or their plans are suddenly being dropped.

Wide short-term swings in interest rates — and loan prepayments — that we've all witnessed have serious secondary effects on consumers, lenders, investors and also policymakers.

The agency says the "disparate impact" standard needs to be amended to align with a recent Supreme Court ruling. But consumer advocates say the change would make it more difficult for borrowers to allege discrimination under the Fair Housing Act.

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.