Compliance

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.

Sonoma County supervisors have signed off on a wide-ranging suite of policy changes intended to encourage construction of more new homes seven months after nearly 5,300 residences were lost here in last year's devastating wildfires.

California is set to become the first state to require solar panels on all newly built single-family houses.