Compliance & Regulation

Regulators and a Home Loan bank have asked First Horizon National Corp. for information about some of its securitizations.

The bureau of compliance and licensing for the Pennsylvania Department of Banking continued to reduce the amount of fraud taking place within the state during the fourth quarter last year.

A regulatory proposal to require a minimum downpayment of 20% on 'qualified residential mortgages' will make it more expensive for first-time homebuyers to obtain private mortgages, according to the Mortgage Bankers Association.

Currently there is considerable attention being given to a fair housing case the Supreme Court is set to hear in the near future. Some have said that this case could have substantial effects on fair lending litigation. While it is not impossible this is the case, in all likelihood, I believe that the case will have little effect on fair lending litigation.

Redwood Trust is starting to feel like the Maytag repairman of the jumbo MBS market: it sits all alone with no company.

One of the most surprising questions I get on a regular basis is "Why are you still talking about mortgage fraud? Hasn't it gone away now that property values are declining, lenders are requiring full documentation to support an application, and they are checking with the Internal Revenue Service to verify borrower income?" The short answer is: no.

The Fed's recent report on current conditions and policy considerations in the housing market points to barriers to recovery that have been persisting beyond its sphere of influence despite its stimulus efforts.

Just when Redwood Trust was starting to look a bit like the Maytag repairman of the jumbo MBS market, we began to hear reports this week that two top 10 ranked banks are working on jumbo deals - for later in the year.

State attorneys general will meet Monday to discuss a potential settlement with bank servicers over the robo-signing scandal, according to a spokesman for Iowa AG Tom Miller.

The Department of Housing and Urban Development has finalized a rule to clarify and strengthen its authority to seek indemnification from its largest lenders for making bad loans.