Compliance & Regulation

Most thrift holding companies will get a two-year phase in period for following Federal Reserve Board reporting requirements while others will initially be exempted, the central bank said Friday.

It's time for eggnog and yearend lists—top news stories, newsmakers, stuff like that. But what about the great mortgage rumors that got away? Here lay five stories/rumors that went nowhere:

Dodd-Frank transferred to the OCC all functions of the OTS relating to federal savings associations on July 21, and the OCC assumed responsibility for the ongoing examination, supervision, and regulation of federal savings associations.

Edward DeMarco, the acting director of the Federal Housing Finance Agency, has one of the toughest jobs in town.

Five industry trade groups have sent a new letter to Federal Housing Finance Agency director Edward DeMarco, telling him – more or less – that they believe the 'fee for service' concept would be a disaster for both the industry and consumers.

The Federal Housing Finance Agency believes California Attorney General Kamala Harris is pestering Fannie Mae with stupid questions. Whether that opinion is enough justification for the government-sponsored enterprise to ignore her queries is to be determined.

E*Trade Financial Corp. and its insurers have agreed to pay $79 million to settle a class-action suit brought by investors over losses in its mortgage and home-equity loan portfolios.

The Justice Department late Wednesday announced that it has reached a $335 million settlement with Countrywide Financial Corp., now owned by Bank of America, in the largest fair lending action in history.

Democratic Rep. Brad Miller and Republican Rep. Walter Jones are sending a message to federal officials who will need to sign off on any settlement agreement reached between state attorneys general and mortgage servicers: do not release the servicers from any violations of a federal law that protects members of the military.

The U.S. Government Services Administration entered into a contract with eMASON that will allow federal agencies to purchase the mortgage technology vendor’s software at negotiated prices.