Compliance & Regulation

There have not been very many weeks yet this year where the markets have not been roiled about something, and the last week was not one of them either.

Wells Fargo, the successor to Wachovia Capital Markets, told a federal court in Wichita, Kan. Friday it should dismiss NCUA's suit over mortgage-backed securities Wachovia sold to offering prospectuses.

As bankruptcy filings become more common in Utah, there is a need for law firms to hire more attorneys to be able to protect consumers and businesses with their legal problems.

A federal court has frozen assets at five California companies that are being investigated for trying to scam U.S. homeowners facing foreclosure. The Federal Trade Commission says it has opened an investigation into companies, which charged its customers up to $10,000 for legal advice and forensic audits.

The annual Federal Housing Administration mortgage insurance premium officially increase April 9 to 120 basis points for loans with terms greater than 15 years and loan-to-value ratios less than or equal to 95%.

There often has been more talk than action in some cases when it comes to bringing old deal-types back to the new-issue securities market. But two notable transactions did emerge recently, and investors considering them should take note of how they and today's environment differ from what was seen in the past.

New York Attorney General Eric Schneiderman is warning state homeowners to beware of phone solicitations from scammers claiming to provide assistance related to the recent national mortgage servicing settlement.

There is considerable emphasis placed on finding solutions to rising heath care costs for those 65 and older, but not enough is placed regarding housing and providing adequate support services for this same group, a Center for Housing Policy report states.

In the early days of the financial crisis investors were lining up for the mother of all loan auctions. It was thought to be the best buying opportunity for bad debt since the S&L crisis. And then a funny thing happened: banks and investment bankers decided not to dump their nonperforming loans, at least not in large numbers - or at fire - sale prices.

The credit union lobby - in the midst of a flurry of new regulatory proposals - is calling on the National Credit Union Administration for a temporary halt to new rulemaking while credit unions catch their breath.