Compliance & Regulation

Reps. Steve LaTourette and Marcia Fudge of Ohio have introduced a bill that would provide $4 billion for states and land banks to issue newly created 30-year tax credit demolition bonds to demolish vacant, foreclosed and abandoned homes across the country to prevent "a tsunami of blight."

While Senate Republicans seem to have largely moved past President Obama's controversial recess appointment of Richard Cordray to head the Consumer Financial Protection Bureau, it was clear Thursday that the House GOP has not.

Over the past few months eWarehouseOne has been gaining somewhat of a buzz among small to medium-sized nonbanks that have been searching high and low for a good deal in warehouse financing. But at the same time, these very same lenders have been asking a very basic question: who exactly are these guys?

New York attorney general Eric Schneiderman's efforts to carve $15 million out of the state's $132 million national mortgage servicing settlement fund to provide foreclosure prevention assistance to New Yorkers came to fruition only a few days shy of the fund's expiration date.

The most charitable thing a mortgage company did this year happened when MetLife, a bank holding company, paid for its residential loan officers to receive training and education in preparation for passing their state licensing tests.

Coming off two straight profitable quarters and flush with capital from its recent public stock offering, HomeStreet Bank, a top ranked mortgage lender in the Seattle area, is back in the good graces of its regulators.

The House of Representatives this week passed legislation that protects confidential information banks and thrifts submit to the Consumer Financial Protection Bureau - but it appears nonbanks operating in certain states are not covered under the language.

The firm’s Mortgage Fraud Risk Report found that incidents of employment and income fraud increased 14% during 2011. This follows an upward trend seen over the last two years in which these fraud activities occurred 45% of the time.

Although Wells Fargo & Co. won't talk about its 'exclusionary' list of third-party lenders, correspondent loan buyers doing business with some of the firms say they wound up on the list mostly because of buyback disputes with the megabank.

Federal Reserve Board member Elizabeth Duke in a recent speech highlighted how the focus of government-assisted community development has shifted to preserving and disposing of existing housing from building new housing.