Compliance

A California man has been indicted by a federal grand jury for allegedly trying to rig public foreclosure auctions in Northern California between 2008 and 2011.

A New Jersey man has been sentenced to 27 years in prison for scamming vacation-timeshare customers of $3 million.

JPMorgan Chase and Dexia agreed to settle a New York lawsuit over $1.6 billion of mortgage-backed securities. Terms of the settlement weren't disclosed in a June 26 court filing.

Despite some silver lining, analysts say the Supreme Court decision upholding "disparate impact" in fair-lending disputes will only embolden activists and regulators to bring more cases.

The Consumer Financial Protection Bureau went forward with a controversial move Thursday to include narratives in its complaint database.

In a huge win for housing advocates and a setback for the banking industry, the Supreme Court on Thursday upheld the use of "disparate impact" in a Texas case alleging housing-related discrimination.

Operations staff is at the tricky crossroads of managing and changing the business. To remain competitive and compliant, lenders must make additional training and networking opportunities available for that team.

A senior civil rights official at the Consumer Financial Protection Bureau is poised to tell Congress Thursday that the agency willfully disregards the process for handling internal employee complaints of discrimination and has repeatedly retaliated against staff who spoke out.

Two groups representing small and mid-size lenders say new proposed state mortgage servicing standards for nonbanks will add an unnecessary layer of regulatory burden, especially for firms servicing Fannie Mae and Freddie Mac loans.

The Consumer Financial Protection Bureau's new mortgage integrated disclosure rules will now take effect Saturday, Oct. 3, two days later than the previously rescheduled Oct. 1 deadline.

A recent critique of the CFPB's enforcement action against an alleged loan officer point bank run by RPM Mortgage perpetuates misinformation that only serves to undermine the policies and practices of responsible lenders.

Regulators finalized a rule Monday requiring banks to escrow flood insurance premiums and fees for loans on real estate located in a flood zone.

Many lenders may not have been ready for the CFPB's new mortgage disclosure rule if it took effect on Aug. 1 as planned. Now a slip-up by the agency itself has given lenders a two-month reprieve.

The U.S. Attorney's Office for the Eastern District of California has indicted Robert Farrace of Modesto, Calif., on charges of wire fraud in connection to a short-sale scheme.

Pressure from community groups forced Valley National Bancorp to strengthen its commitment to lend in low- and moderate-income neighborhoods in order to win approval for a Florida acquisition. Other banks, too, are now placing CRA efforts front-and-center as they aim to sell deals to the public and their regulators.

The Consumer Services division of Washington state's Department of Financial Institutions has accused Quicken Loans with sending false claims in direct mail advertising to military members.

A U.S. District Judge sentenced a New Jersey man for his role in a $15 million mortgage fraud scam.

FHA tries to clarify what loan defects will bring the harshest penalties to guide lenders and instill more confidence.

A technical error made by the Consumer Financial Protection Bureau has become a saving grace for lenders who had pushed, begged and pleaded for more time to comply with a new mortgage disclosure rule.

It turns out the Consumer Financial Protection Bureau's failure to file a two-page form to Congress on time was the unspecified "administrative error" that delayed the effective date for new mortgage disclosure rules.