Compliance & Regulation

The Treasury Department this week unveiled a new joint task force to fight mortgage scams aimed at struggling homeowners seeking payment relief under the government’s Home Affordable Modification Program.

Massachusetts on Thursday sued the nation's five largest residential servicers, alleging their foreclosure practices were unlawful and deceptive.

The Federal Housing Administration is considering raising insurance premiums on loans above $625,500, according to HUD secretary Shaun Donovan.

Treasury Secretary Tim Geithner late this week had a message for those hoping to water down last year's financial regulatory overhaul — it's not going to happen.

A move by the Consumer Financial Protection Bureau to begin fielding complaints related to mortgages is likely to prove significant as it moves ahead with new mortgage-related rules, observers said Wednesday.

The mortgage industry is packed with folks who were probably high school kids who didn’t start studying until the night before an exam. While it’s possible to get a decent grade with last minute preparation in high school, in the business world it’s also almost impossible to make sound financial decisions when a deadline is biting at your heels. Quality takes time. Smart business decisions can’t be made in a hurry.

Credit risk managers expect consumers will have trouble making payments on a variety of loan types, according to the European Credit Risk Survey taken by FICO and Efma.

The American Legion is calling on Congress to extend the $729,750 loan limit on Department of Veterans Affairs guaranteed loans before the ceiling drops down to $625,500 on January 1.

Bankers concerned about the control and compliance issues of letting employees interact with customers on social media sites might be interested in a software package released today that offers an option for managing those customer interactions.

The Federal Housing Finance Agency has recruited two veterans of the Federal Reserve Board to fill key agency posts.