Compliance

The government argued earlier that, given the egregiousness of the fraud, the bank should pay the maximum penalty of $863 million.

Though bankers generally applauded the Consumer Financial Protection Bureau's final rule on mortgage disclosures, they are raising concerns that some of the changes need to be fixed or they'll have no choice but to assess higher fees at the closing.

How many Mortgage Technology Conference attendees were on their mobile devices during a panel discussing the security challenges posed by mobile devices? A lot.

Fixed mortgage rates came in lower on average week-to-week, but Federal Reserve minutes suggest a reduction in rate-lowering bond purchases is in the works.

Retail loans dominate one deal. A mix of property types back the other one.

Federal judges have ruled no valid claims of fraud exist against MERS in which plaintiffs claimed the company’s role in a deed of trust caused them injury.

Individual deal exposures are minimal, for the most part. The area the tornado hit contained about 100 properties, according to Standard & Poor’s.

The mortgage industry’s shift toward a purchase-driven market increases the risk of fraud, and that was evident in the third quarter, particularly for jumbo loans.

The issue centers around lender-paid compensation and where would it appear on those documents.

Underutilized low-income housing tax credits used to fund apartment construction could help offset a decline in multifamily financing availability, if lenders are willing to lower their minimum loan sizes.

The bureau proposes to resolve the conflict between the servicing rules' notice requirements with bankruptcy law by exempting servicers from both the periodic statements and the early intervention requirements of the servicing rules for borrowers who have filed for bankruptcy.

A delay in instituting the National Flood Insurance Program was requested by Brad Thaler, NAFCU VP of legislative affairs, until the Federal Emergency Management Agency completes its affordability impact study outlined in the Biggert-Waters legislation.

The scheme targeted distressed borrowers at risk of foreclosure by promising them a HAMP mortgage modification in exchange for a $400 to $900 upfront fee.

We’re hearing private label mortgage-backed securities investors still face challenges to when it comes to amassing the consensus needed to have optimal access to information and leverage in litigation.

LoanServ aims to provide technology that is easy to access and gives each client a consistent customer experience.

The settlement with Bank of America Corp. gave bond investors more than twice what they would have recovered through litigation, an attorney for Bank of New York Mellon Corp. says.

The actions of the Consumer Financial Protection Bureau will determine how successful the market will be, a panel discussion at the Mortgage Bankers Association convention says.

JPMorgan Chase & Co. has resolved the last obstacles after months of negotiations to a record $13 billion settlement of civil state and U.S. probes over the sale of mortgage bonds.

JPMorgan, the biggest U.S. bank by assets, battled with the FDIC over who should pay some liabilities from the failed Seattle thrift.

Jose Alvarado used his control over three companies to falsify important facts given to financial institutions in order to secure loans totaling nearly $2.5 million.