Compliance

An out-of-court settlement in Mount Holly, N.J., means that the court will not weigh in on whether the controversial legal theory can be used in fair-lending cases.

Mortgage lenders, servicers and banks need to follow how court procedures for admitting evidence are updated when developing technology systems.

Going back to a “mutual” model and selling off risky bonds could help cue underwriters about how to evaluate risk.

Financial regulators acknowledged Thursday that the data they use to determine fair lending violations in certain cases could be improved, but said they would not stop using such information.

Although many borrowers have been lifted above water on their mortgages due to rising house prices, there are reasons to be skeptical that this will generate much additional spending.

Matthew Sweet, the former vice president and controller of One Bank & Trust, allegedly abused his position at the bank to steal approximately $75,000.

A pre-approval letter should come from a major lender and not some “no name” mortgage broker.

Stonegate Mortgage Corp. executives credit the nonbank’s differentiated mortgage banking platform and their “solid business execution” practices for mitigating risk despite revenue declines amid rising interest rates.

With the new compliance requirements and rules from government entities including the Consumer Finance Protection Bureau, we have now stepped into the age of a new normal.

The companies would be acquired in exchange for about $35 billion in GSE preferred stock, and at least $17 billion in additional funds would be raised from preferred holders and a rights offering.

The donation benefits a new financial education program introduced by one of the nation’s largest financial counseling organizations.

The new rules will result in underwriters placing additional scrutiny on these applicants.

When choosing either to fight or take flight, in the mortgage industry it is causing significant M&A activity.

Consumer advocates are concerned about lenders shying away from much-needed loans as a result of the new rules.

Heys Edward McMath III allegedly colluded with six former bank officers to hide millions of dollars in nonperforming commercial real estate loans.

The Department of Housing and Urban Development for the first time failed to sell some soured mortgages it's auctioning off post-housing crisis, according to sources familiar with the results.

A mortgage corporation was deceived into financing $1 million for four properties with invalid loan applications and appraisal reports.

The primary drivers of loan growth continue to be first mortgages and vehicle loans.

An agreement between the government and the bank over mortgage-bond sales that's silent on taxes would let the company take a deduction and shave 35% off any settlement cost.

Illinois Attorney General Lisa Madigan alleges that the field service company violated the Illinois Consumer Fraud Act, but Safeguard says these claims are wrong.