Compliance & Regulation

The Obama administration has opened the door for nearly 1 million existing FHA borrowers to refinance by encouraging lenders to originate more 'streamline' refinancings. But will it happen?

The House and Senate on Friday passed a $150 billion bill that extends a payroll tax reduction and unemployment benefits for 10 months without increasing guarantee fees on Fannie Mae and Freddie Mac loans.

The mortgage division of D.R. Horton recently fell victim to a cyber security attack, potentially compromising sensitive borrower data, the Fort Worth, Texas-based homebuilder disclosed late Thursday.

According to the office of the inspector general for the Troubled Asset Relief Program, Reginald Harper developed a scheme with Troy Fouquet, a local real estate developer, to create and use false loans to hide delinquent nonperforming loans.

So your underwriter wants to work from home? Beyond the concerns most employers would typically have, financial services firms must carefully consider the security of private customer financial data before deciding whether, how and which employees can work remotely.

Fannie Mae's second multifamily DUS REMIC of the year drew several new investors that one of its executives said were attracted by the deal's relatively strong debt-service coverage ratio, LTV and diversified collateral pool.

With its nonbank supervision program finally underway, the Consumer Financial Protection Bureau wants to bring debt collectors and consumer reporting firms under its oversight umbrella.

Capital One Financial Corp. agreed as part of its purchase of ING Direct USA to originate loans insured by the Federal Housing Administration to borrowers with low credit scores. But five months after giving verbal assurances to the Federal Reserve and consumer groups that it would accept FHA applications with minimum FICO scores of 580, Capital One still is not originating such loans.

A new Standard & Poor's report suggests a "proactive policy orientation" that "would focus on the financial system's overarching purposes" would be helpful in meeting regulatory aims when it comes to mortgages, among other things.

A new report that found systemic flaws in California's foreclosure process could be fodder for securities investors to make claims against banks and mortgage servicers, its author says.