Compliance & Regulation

If the GSEs initiated a principal reduction program similar to the one outlined in the robo-signing settlement, roughly 650,000 borrowers could benefit, distressed sales would level off, and home values would “stabilize,” according to Moody's Analytics chief economist Mark Zandi.

In addition to the national mortgage servicing settlement, Nevada has reached a side deal with Bank of America, state Attorney General Catherine Masto announced late Thursday.

The $25 billion 'robo-signing' settlement with the five mega-servicers includes a new set of servicing standards - and a mortgagor's ‘Bill of Rights' - to prevent future processing and foreclosure abuses.

FHA indemnification agreements have been running at an average rate of 1,282 each year for the last seven years, according to a Collingwood Group executive who spoke during a conference call Wednesday afternoon.

A federal judicial panel denied a motion to include the Dallas County district attorney’s lawsuit against Merscorp in the ongoing multidistrict litigation against the private loan registry in Phoenix.

The $26 billion 'robo-signing' settlement with five major servicing banks announced Thursday morning could yield nearly $35 billion in principal reductions, according to Housing and Urban Development secretary Shaun Donovan.

Early Wednesday afternoon it appeared that New York and California would not be part of the 'robo-signing' deal and then - from what we're told - the White House put the full court press on the two, laying out the political ramifications for these two very Democratic states.

Wendover Consulting Inc., the Greensboro, N.C. company founded by reverse mortgage guru Jeff Taylor, has beefed up its management team with three new hires.

When the White House releases its fiscal year 2013 budget next week it's expected to show that the Federal Housing Administration's mortgage insurance fund is still in the black - but barely, according to mortgage insurance and former regulators who have been tracking the issue.

California Attorney General Kamala Harris and New York AG Eric Schneiderman Wednesday afternoon joined a multi-state settlement with the top five mortgage servicers, according to sources familiar with the negotiations.