Compliance

For the second time in 2013, Charles Head was convicted by a federal jury in the Eastern District of California for operating a major mortgage fraud scheme.

The National Fair Housing Alliance has accused big banks of discriminating against minorities in the upkeep of foreclosed properties and is seeking millions in settlements—mostly for itself. Behind its demands are faulty data and grants overseen by a federal official with close ties to the group.

Rising interest rates next year will heighten both the term risk of new deals and the refinance risk of outstanding commercial mortgage-backed securities, but Moody’s ratings could remain stable.

New policies spell out "business interactions" between mortgage insurers and servicers.

The pass-through deal consists of beneficial interests in a three-year loan, floating-rate loan that has two one-year extension options, according to Fitch. Five mall properties cross-collateralize the mortgage.

Borrowers whose homes were damaged by the November tornadoes are being offered mortgage relief options by the government-sponsored enterprise including forbearance for up to one year.

An outsourcing services provider is buying a capital markets consultancy for $75 million, and separately a mortgage company is outfitting its new servicing unit with lien-release technology.

Government cops have been responsible for recouping nearly $5 billion from fraudsters since 2008.

Boston Community Capital is urging lawmakers to extend the Mortgage Forgiveness Debt Relief Act before it expires at the end of the December.

The deal releases the lender from certain existing and future repurchase obligations for approximately 716,000 loans originated between January 2000 and December 2009.

Lawyers for a Pennsylvania bank say the draft complaint may lead to the discovery of evidence that could be used in its own case against JPMorgan Chase.

Regulatory pressure is expected to be as strong as ever next year when mortgage lenders and servicers will test new waters in compliance implementation, process improvements and business strategies. Market veterans find regulatory compliance risks are higher almost in every area of the business.

Refinancing share is up week-to-week, but the Mortgage Bankers Association’s raw numbers show purchases are higher both week-to-week and year-to-year.

Increases in medium- and long-term interest rates still pose risks, but the Federal Deposit Insurance Corp.'s Quarterly Banking Profile revealed that a rate recovery can also have advantages.

The individual performance of mortgage-related companies in this publication’s equity index ranged from a gain of about 5% to a loss of about 1% in value on the day.

Mortgage loans originated this year are favorable towards borrowers, but there may be a shift in risk and eligibility as the market moves into a purchase and first time homebuyer market.

The CFPB's "Know Before You Owe" rule combining TILA and RESPA disclosures "is one of the largest and most impactful regulatory changes credit unions have probably ever seen,” one analyst says.

It is not just a way for them to fill their pipelines during a slowdown in originations, they claim.

Contrary to historic trends, third-party mortgage loans originated after the crisis years are performing almost as well as retail originated loans.

The individual performance of mortgage-related companies in this publication’s equity index ranged from a gain of about 3% to a loss of about 2% in value on the day.