Compliance & Regulation

A former Bronx, N.Y., borough president, who currently is the New York and New Jersey regional director for the Department of Urban Housing and Development, admitted in a disposition that he violated the city's conflict of interest law that prohibits elected officials from using their position to obtain financial or personal incentives.

Mortgage fraud is so prevalent today that even individuals related to celebrities are creating scams in order to steal money from future homeowners.

Flippers doing it illegally defraud banks by buying at short sales for prices below the true value and what legitimate buyers will pay. In these schemes, realty agents obtain FRAUDULENT APPRAISALS to persuade banks to sell houses at below-market prices.

Loan officers will have some unpleasant news for their customers in 2012: the cost to obtain a new government-backed mortgage will be rising.

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.