Compliance

1st Alliance Lending plans to cut up to 35 employees in Connecticut and terminate efforts to expand its East Hartford headquarters in order to prepare for an expected increase in regulatory costs.

Early adopters took digital mortgages from concept to reality. What will it take for everyone else to catch up?

From origination to servicing and everything in between, here's a sneak peek at the companies and products presenting demos at the 2018 Digital Mortgage Conference.

Computershare Loan Services has agreed to acquire a loan fulfillment and secondary marketing unit owned by LenderLive Holdings in order to broaden its services along the full mortgage lifecycle.

The Department of Housing and Urban Development took the very rare step of filing a secretary-initiated fair housing complaint — only three were made in the last two fiscal years — against Facebook.

The Michigan company had been operating under the supervisory agreement since 2010.

Zillow Group is moving from being a mortgage marketer to originating loans with its acquisition of Mortgage Lenders of America, in an effort to support its home-flipping business.

Revisions to the TILA/RESPA integrated disclosure that go into effect this fall drove the changes Ellie Mae made in its latest update to the Encompass loan origination system.

The agreement was likely the last of the big cases to be cleared by the Justice Department, and Wells paid less than its peers did to resolve the lingering mortgage probes stemming from the meltdown.

The Consumer Financial Protection Bureau's practice of "regulation by enforcement" and use of nonbinding guidance materials makes its regulatory efforts "unfair and ineffective" to lenders and servicers, the Mortgage Bankers Association said.

The number of nonbank lenders and servicers that did not comply with the California Residential Mortgage Lending Act Annual Report requirements grew this year, prompting a reprimand and warning of penalties from the commissioner of the state's Department of Business Oversight.

Most mortgage lenders and banks do not maintain a comprehensive vendor management strategy, exposing institutions to increased compliance risk, according to a recent survey.

The Columbus, Ohio, city attorney's office has filed a complaint against a corporation based in Nebraska and Columbus that owns 11 blighted properties here and created companies to shield it from liability.

Bank of America Corp.'s Merrill Lynch unit will pay $15.7 million to settle a U.S. regulator's allegations that it failed to properly supervise traders who persuaded clients to overpay for mortgage bonds by misleading them about how much the firm paid for the securities.

Groups representing banks, credit unions, the housing industry and others argue in favor of a bill requiring the CFPB to issue timely guidance on its rules.

The Atlanta bank had previously failed compliance metrics in five straight quarters before passing them last year, according to the settlement's monitor.

Ditech Holding Corp. has received a second notice from the New York Stock Exchange warning its common stock could be delisted for not being in compliance with the exchange's requirements.

The increased regulatory burden created by the Dodd-Frank Act restricted bank residential lending in 2017, especially when it came to non-qualified mortgages, according to an American Bankers Association survey.

John Krenitsky, who previously managed compliance for Discover Financial Services and various banks, is joining Freddie Mac as senior vice president and chief compliance officer on June 1.