Compliance & Regulation

Joining ranks with 37 other states, South Carolina has outlawed private transfer fees on homes.

New final IRS/Treasury regulations defining the source of income from qualified "fails" expands the scope of a temporary regulation related to Treasury fails to agency mortgage-backed securities and debt.

The Federal Housing Finance Agency is determined to continue its mission of shrinking the balance sheets of Fannie Mae and Freddie Mac and plans only to add product when the two need to buy delinquent mortgages out of delinquent MBS pools.

A majority of Supreme Court justices seem convinced that RESPA is simply an anti-kickback statute -- but may rule that the 1974 law has a broader reach if they defer to HUD's interpretation concerning unearned loan fees.

Certain appraisal management companies acting as a middleman between an originator and appraiser are not registering with the states, raising concerns about lost tax revenue, according to the National Association of Independent Housing Professionals.

Fitch is concerned that some CMBS special servicers are charging undisclosed fees to borrowers seeking modifications and fears the practice may be the beginning of a trend.

Six out of the 10 members of the House Ethics Committee have recused themselves from an investigation involving Rep. Maxine Waters and the bailout of a bank in which her husband owned shares.

The last round of good faith estimate reform from 2010 is still causing some consternation two years later, and the industry is heading toward another round.

Over the last 20 years you have all heard me speak of this agency. All federal financial institutions have to file Suspicious Activity Reports with it. The filer may not reveal to anyone this has been done under criminal penalty. The filer does it in good faith and does not even have to be right. It reaches the desks of the FBI, Secret Service and local prosecutors.

First things first: Yes, I can live on $500,000. Heck, I can live on $250,000 a year. Would I like to run Fannie Mae, the government-controlled mortgage giant? Answer: Sure, why not? But first I have a few stipulations.