Compliance & Regulation

The law firm Ballard Spahr announced Monday that it has added a new mortgage banking practice, tapping three partners and one associate from Patton Boggs.

The Treasury Department is stepping up efforts to unwind its remaining commitments from the 2008 bailout.

The New York State Court of Appeals, in a 6-1 decision, ruled that the attorney general's office is not barred by federal law and thus is able to pursue claims alleging fraud and violations of real estate appraisal independence rules against First American Corp. and its former eAppraiseIT LLC unit.

GMAC Mortgage on Friday said it will no longer purchase loans originated by mortgage correspondents or brokers in Massachusetts, citing the regulatory environment in the state.

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.