The Office of Federal Housing Enterprise Oversight is developing a process to report incidents of mortgage fraud discovered by Fannie Mae and Freddie Mac to law enforcement agencies without causing any legal liability for the two government-sponsored enterprises.OFHEO issued a final rule in July that requires the two GSEs to report mortgage fraud to its examiners. But unlike banks, which are protected by the Bank Secrecy Act, the GSEs can be sued by persons named in those reports. So OFHEO is working with the FBI and other law enforcement agencies to develop a process to share information with the Financial Crimes Enforcement Network. "We are trying to make sure that information received by OFHEO examiners is investigated," Alfred Pollard, OFHEO's acting deputy director, told the Exchequer Club in Washington.
-
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
7h ago -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
8h ago -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
9h ago -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
11h ago -
The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
April 18 -
The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
April 18