Compliance & Regulation

The Obama administration's plan to refinance underwater borrowers with private-label mortgages was supposed to be dead on arrival -- but it appears Sen. Richard Shelby of Alabama, the ranking Republican on the Banking Committee, wants to hear more.

JP Morgan Chase & Co. told a federal court in Wichita, Kan., that it should reject NCUA's claims regarding $1.4 billion of mortgage-backed securities sold to four failed corporate credit unions and dismiss the suit without even allowing for discovery.

The Federal Reserve Bank of New York announced the sale of the rest of the securities in the Maiden Lane II LLC (ML II) portfolio.

Banks and consultants are looking to improve money laundering detection systems using lessons adapted from their fight against consumer fraud.

Fannie Mae, in a new SEC filing, says that in late January it cut off Bank of America from selling most types of loans to the GSE because of "delays" by the lender in making good on outstanding buyback requests.

Federal Housing Finance Agency acting director Edward DeMarco continued to play defense Tuesday as senators grilled him over his unwillingness to let Fannie Mae and Freddie Mac forgive struggling homeowners' debt.

The Nationwide Mortgage Licensing System and Registry is ending its reinstatement for streamlined renewals Wednesday at midnight EST.

The recently unveiled HARP 2.0 initiative should be “fully” operational in 30 days and is already exceeding expectations, according to Housing and Urban Development secretary Shaun Donovan.

During a pair of appearances Tuesday on Capitol Hill, top housing officials from the Obama administration sought to reassure members of Congress about the financial condition of the Federal Housing Administration.

Wells Fargo & Co. unveiled specific new terms in the national mortgage servicing settlement on Tuesday, providing the most detailed summary to date of what concessions banks did and did not win from federal and state officials.