Compliance & Regulation

Mortgage originations today contain many of the same risk characteristics as found in years past, but Teresa Halleck said there is one important difference.

Even though third-party due diligence has always been performed on whole loans, the providers of these services have more skin-in-the-game now that rating agencies have very stringent requirements.

The current vice president of the Hells Angels' Sonoma (CA) Chapter has to serve a year in jail and pay $130,000 in restitution to SunTrust Mortgage for his role in a mortgage fraud scheme.

Massachusetts' new "Right to Cure Your Mortgage Default" notice has been voluntary, but starting next month it becomes mandatory.

After having gone through an enormous disruption characterized by unexpected deterioration and massive losses, investors in residential mortgage-backed securities have a number of reasons to feel unsettled.

This week the Consumer Financial Protection Bureau released correspondence clarifying (or rather correcting) the Federal Reserve Board's interpretation of the LO comp rules. In previous conference calls, various Federal Reserve employees stated that the LO comp rules prohibited profit of loans from having direct impact whatsoever on an LO's compensation.

Joseph Smith has assumed his duties as the monitor for the $26 billion foreclosure settlement and he will be responsible for making sure five mega-servicers live up to the terms of the agreement and reform their servicing and foreclosure practices.

Non-agency MBS investors should look for bonds with smaller loan sizes in a structure that is levered to severity, said Amherst Securities Group analysts in a recent report.

If the new RMBS deals issued in the past week give an indication of what the non-agency market space will look like, then it is clear that only the best will do.

The potential sale of the Maiden Lane III (ML III) assets might signal that the Federal Reserve is making its move to take liquidity out of the system, securitization experts said Thursday.