Compliance & Regulation

Moody's Investors Service has extended the review period for a possible downgrade of $871 million of outstanding bonds sold by the Idaho Housing and Finance Association while the issuer works on a plan to shore up its balance sheet.

CoreLogic is now offering financial and government institutions a tool that provides them information in order to combat mortgage fraud.

The U.S. Department of Justice Tuesday sued Allied Home Mortgage Capital Corp. and two executives — including founder Jim Hodge — accusing them of fraudulent lending practices tied to hundreds of millions of dollars in government-backed loans.

The Conference of State Bank Supervisors Tuesday promoted Bill Matthews to executive vice president of the group, which represents state banking regulators throughout the U.S.

A Minneapolis broker who helped borrowers tap area credit unions and banks for more than $8 million in mortgages to buy homes at inflated prices was sentenced Monday to 10-and-a-half years in prison.

Although they will not be supervised by the Consumer Financial Protection Bureau, executives of small financial institutions told a congressional panel Monday they remain uneasy about the effect the bureau will have on their businesses.

On Oct. 17, U.S. District Judge Neil V. Wake SENTENCED TALAL ASHEK TO TWO YEARS IN FEDERAL PRISON. Ashek was also ordered to pay over $2.9 million in restitution. Ashek had previously pleaded guilty on Aug. 4 to one count of conspiracy to submit false claims to a lending institution for his role in a mortgage fraud conspiracy.

Fannie Mae Monday morning confirmed to National Mortgage News that its multifamily unit is the subject of an Inspector General probe being conducted by the Federal Housing Finance Agency.

A Realtor's attempt to defraud a Midwest Bank of $60,000 was thwarted with the assistance of a Web-based offer-processing service that eliminates the possibility of foreclosure fraud.

A 45-count indictment for fraud and money laundering has been charged by a federal grand jury in Newark, N.J., against the leader of an investment fraud scheme that allegedly caused more than $200 million in losses.