Compliance & Regulation

JPMorgan Chase chairman and chief executive Jamie Dimon suspects a "turn" in the housing market is getting closer but a recovery may still be years away.

What does the NLRB have in common with Lady Gaga? Overtime. And a lot of it. While Lady Gaga is being sued by a single personal assistant for almost $400,000 of overtime, the National Labor Relations Board is throwing out agreements designed to protect businesses from class action overtime suits.

Due to more stringent government loan requirements and increased oversight by regulators, small servicers have experienced problems with traditional subservicers. These problems include high delinquency ratios under Ginnie Mae, high FHA curtailments, low loss mitigation workout ratios and challenges with conveying properties to FHA.

Goldman Sachs this week asked a federal court in Los Angeles to dismiss a billion-dollar private label MBS related lawsuit brought against the firm by the National Credit Union Administration.

The Justice Department issued a critical legal opinion Thursday asserting that President Obama is allowed to make recess appointments despite pro-forma Senate sessions in which no business is conducted, effectively validating the appointment of Richard Cordray to the Consumer Financial Protection Bureau.

One of the joys of living in South Florida is spending New Year's Day at the beach. This year when walking along the shore I came across a sand crab making its way toward the water. My grandchildren were fascinated by the fact that the crab didn't walk forward, but sideways. Every time my grandchildren got close, the crab stuck its head into its shell, thereby making no progress at all.

Examiners from the Consumer Financial Production Bureau will begin entering nonbank residential lending shops in February and March, according to the bureau's newly appointed "permanent" director, Richard Cordray.

A report released by the Florida inspector general has cleared state Attorney General Pam Bondi of any wrongdoing for the resignation of two foreclosure fraud attorneys who worked in her office.

The top cop at the Federal Housing Finance Agency is looking for an analytics firm that can advise the agency on what mortgage servicing rights are worth. But a big question about the contract remains unanswered: Why?

More than two dozen Democratic congressmen from California are calling on President Obama to use a recess appointment and replace Federal Housing Finance Agency acting director Edward DeMarco with a new regulator who will help prevent foreclosures.