Compliance & Regulation

The Senate late Thursday approved an amendment to restore the $729,750 maximum loan limit on government-back mortgages for two more years.

Nine subservicing firms this week received approval to handle loans underlying Bank of America-owned Countrywide RMBS as part of a proposed $8.5 billion settlement.

The Consumer Financial Protection Bureau has enlisted former Minnesota attorney general Hubert Humphrey III to head a special effort to identify and prevent scams targeted at senior citizens.

The New York State Court of Appeals late Wednesday agreed to hear an appeal from Hudson Valley Federal Credit Union, which claims its status as a federally chartered credit union should exempt it from the state's recordation transfer tax on all real estate transactions.

Equifax is expanding the availability of technology it’s developed to aid mortgage investors analyzing whole loan portfolios before and after they’re purchased.

The Federal Housing Finance Agency this week directed Fannie Mae and Freddie Mac to start transitioning to a new system where mortgage servicers pick the foreclosure attorneys they work with -- not the GSEs.

The White House has recruited 37 state attorneys general to urge Senate Republicans to stop blocking the confirmation of the first Consumer Financial Protection Bureau director.

Bank of America said it is receiving more buyback requests for older vintages of loans from Fannie Mae and plans to contest some of these claims regarding breaches of representations and warranties.

Examiners from the Consumer Financial Protection Bureau may look the same, but they won't necessarily see the same. The bureau is employing many of the same examiners -- and similar methods -- that the banking regulators have used for years to conduct exams, according to the CFPB's supervision and examination manual released last week.

Master servicers have been instrumental in dealing with the robosigning debacle in existing securitization deals, said participants at Information Management Network's ABS East Conference on Sunday.