Compliance & Regulation

New regulations have, and are expected to continue to impact the commercial real estate mortgage servicing industry, while process redesign and technology implementations are helping organizations improve efficiency, expand offerings and in many cases, retain staff.

On Wednesday industry officials met with the Consumer Financial Protection Bureau to discuss the agency’s new proposal to reengineer how loan officers and brokers can make a living. To call it a nightmare might be an understatement, we were told by attendees.

The Federal Reserve Board is using YouTube to try to reach more borrowers who may be eligible to have their foreclosure files reviewed as part of consent agreements with the 14 largest mortgage servicers.

WarehouseOne of Trenton, N.J., which has been in business since 1998, is demanding that a troubled lender with a similar-sounding name stop using that name.

Recently announced prepayments pending on certain Freddie Mac securities stem from what the lender involved said is a resolved technical error that caused a buyback of $330 million in mostly current loans.

Does anyone in government feel sorry enough for jumbo borrowers that they would design a HARP program to help these (presumably) high net worth individuals take advantage of a 3.5% fixed-rate mortgage?

WASHINGTON–The heads of the U.S. government’s two financial-market watchdogs did not learn of trades that led to sharp losses at JPMorgan Chase until they heard media reports about it, the agency chiefs told Congress on Tuesday.

The Financial Industry Regulatory Authority on Tuesday fined Citigroup Global Markets Inc. $3.5 million in a settlement related to charges of nonconforming residential mortgage-backed securities violations that Citi neither admitted to nor denied.

A federal judge this week dismissed portions of the Securities and Exchange Commission's case against two former executives of IndyMac Bank, the now-defunct alt-A giant that was initially started by Countrywide Financial Corp.

The Home Affordable Refinancing Program is not giving perks to the right borrower.