Compliance & Regulation

Vendors are trying to help companies address regulations, but they are finding the compliance mandate is a two-edged sword in terms of companies' spending on their services, said executives from Wipro Gallagher Solutions in a recent interview.

If your Loss Mitigation and REO Departments interact with listing agents in the traditional fashion, then you are enabling fraud.

The foreclosure crisis is loosening the traditionally strong tie homeowners have with their homes. New findings from FICO's latest quarterly survey of bank risk professionals indicate one way the slow recovery will affect distressed homeowners in 2012 is increased propensity for "strategic default."

Lenders are hoping the Consumer Financial Protection Bureau will approve a 'qualified mortgage' rule with a safe harbor, protecting them from consumer lawsuits, but a legal analysis shows lenders may still be vulnerable if they are careless or cut corners.

The Consumer Financial Protection Bureau's latest mortgage servicing proposals have the residential lending industry seeing dollar signs -- and not the good kind.

The Consumer Financial Protection Bureau detailed a slew of new mortgage servicing rules last week that it plans to propose this summer, including a call for expanded disclosures for payments and fees and new policies in how banks must handle customer accounts.

The Consumer Financial Protection Bureau is about to take another step forward in its efforts to write a series of rules to define "larger participants" in specific markets, including those in the consumer credit reporting business.

Following an undercover investigation that found "disturbing evidence" of discrimination in the management of real estate owned properties in communities of color by a number of undisclosed banks the National Fair Housing Alliance has filed a federal housing discrimination complaint against Wells Fargo & Co. and Wells Fargo Bank, N.A.

Over the last 10 years, $23.7-billion State Employees' Credit Union in Raleigh, N.C. has not had a single mortgage handed back to it by an investor due to poor underwriting.

Through the first three quarters of 2011 The Golden 1 Credit Union in Sacramento, Calif. had by far the most mortgage originations of any CU in California and it is actively advertising for more.