Compliance

Bank of America asked a federal court to dismiss a lawsuit brought by the U.S. that accuses the lender of misleading investors about the quality of loans backing $850 million in securities.

Bank of America’s Countrywide unit was found liable by a jury in Manhattan federal court last month for selling the government-sponsored entities thousands of defective loans in the first mortgage-fraud case brought by the U.S. to go to trial.

Single-issuer Ginnie I pools have been the mainstay of the Ginnie MBS program for decades.

This product does not count towards the 3% fee cap because the premium is rolled into the mortgage's interest rate.

Home value data reported by Pro Teck Valuation Services confirm that state regulation will continue to negatively affect property values and the housing recovery.

The battle over how to craft affordable housing requirements as part of mortgage finance reform took center stage on Thursday as witnesses at a Senate Banking Committee hearing sparred over the issue, including whether dedicated funds should be subject to Congressional appropriations.

The industry is still working through the mortgage loan delinquency and foreclosure problems of the past, especially in states where foreclosures are processed in a court of law, insiders say.

The Consumer Financial Protection Bureau said Thursday it was charging Castle & Cooke Mortgage $13 million in penalties for allegedly pushing consumers into costlier mortgages in order to give kickbacks to loan officers.

Rates have reversed a downward trend that occurred after the Federal Reserve indicated it will keep easing. If this trend continues, refinancings are likely to decline again.

Those loan officers who lack integrity will not be successful.

Originators can't divide annual income by 12 to see if the borrower qualifies for a loan.

Mortgage firms are in fight or flight mode as they plan either to comply to an avalanche of new regs or be acquired by other companies.

The company is putting mortgages in the “rearview mirror,” according to its top executive.

Federal agencies are pursing some of the largest U.S. lenders for claims tied to faulty underwriting and bias on home loans.

Blackstone’s Invitation Homes borrowed more through the deal relative to the value of the houses serving as collateral for the bonds than recent residential-mortgage securities.

The directive bars banks that do business with Fannie and Freddie from receiving commissions from insurers, but still lets insurers provide services for free or at a reduced cost.

Mortgage fees charged without proper disclosures were among concerns whistleblower Scott Norris raised to little effect, he alleges.

The Senate Banking Committee dug into the details Tuesday of how to ensure that community banks retain access to a reformed housing finance system as agreement over a broad approach began to emerge.

MortgageIT will pay HUD $12 million for unfairly denying and overcharging loans against African American and Hispanic borrowers.

Community bankers are trying to make sure they have a place at the table as legislators decide lender access to the secondary market where they play a bigger role than most believe to be the case.