Compliance & Regulation

It would appear that the chief executives managing Fannie Mae and Freddie Mac are in for a pay cut - a significant one at that.

The Georgia Department of Banking and Finance recently revoked the license of Citizens First Mortgage Solutions, but Cynthia Rumph, president and owner of the Snellville, Ga.-based brokerage company, has appealed the cease and desist order issued against her company.

Here's a riddle for you: What can you buy at record low prices, that you can't buy at record low prices? Answer: A home. That's right, despite interest rates not seen in nearly 50 years, home sales in the U.S. are sluggish at best. How can that be? Simple really. Most home sales are dependent on mortgage financing, but getting that financing can be a real challenge.

The Mystery of Banking The bank has ten billion this year, But the money is simply not Here--

A few years back when it came to minority housing especially in the largest metropolitan areas the risk of stretching lending too thin was often overshadowed by the benefits of higher rates of homeownership.

Bank risk professionals expect delinquencies on most types of consumer loans to rise, balances on credit cards to grow and global concerns will all affect the nation's economic health, according to a FICO survey.

Among the ramifications of paying for the tax cut extension by hiking agency guarantee fees in April could be upward pressure on consumer rates and an improvement in mortgage-backed securities prepayments.

Two more congressmen have been identified as receiving home mortgages through a Countrywide Financial Corp. program that has prompted a Congressional investigation into whether the now defunct lending giant approved loans on favorable terms to win political favor.

The Federal Housing Finance Agency has joined efforts to get credit unions exempt from the mortgage recordation tax in New York, ratcheting up the fight against the state levy.

The National Association of Insurance Commissioners' capital designation prices for year-end 2011 show a modest average decline that should have a limited but nuanced effect on the securitized non-agency market, a Barclays report suggests.