Compliance

A third financial institution has come to an agreement with Freddie Mac to resolve claims that it issued problematic loans to the government-sponsored enterprise between 2000 and 2008.

Fannie Mae and Freddie Mac don’t require lenders to produce a 4506-T form that has been processed by the Internal Revenue Service before closing a loan.

During the recent housing recovery the industry focus switched on operational efficiency and loss mitigation cost management.

Detroit’s struggles during the latest financial crisis and housing meltdown has been an ongoing issue for a long time.

Wells Fargo agreed to an $869 million settlement with Freddie Mac to resolve disputes over faulty loans sold to the government-backed firm before Jan. 1, 2009.

The African-American community lost more than half its net worth as a result of the housing debacle and the ensuing economic crisis.

With a government shutdown looming, it appears the mortgage industry will be mildly inconvenienced as most government mortgage programs will remain open.

The attorney general said these agreements are one more step in the continuing fight to protect New Yorkers from a range of unfair financial schemes—from predatory loans to illegal foreclosures.

Blackstone Group’s Steve Schwarzman said his decision 19 years ago to sell what would become the world’s largest money manager was a “heroic” mistake.

Analysts are warning investors about the impact of different servicing strategies on the cash flow generated by mortgage servicing rights on securitized delinquent loans.

In a foreclosure situation the emotions that overtake many borrowers can be critical in how and if they survive the trauma and may prevent them from looking for alternatives to their impending foreclosure.

The Department of Housing and Urban Development has issued its proposed version of the qualified mortgage rule for FHA-insured loans and it includes a 3% limit on upfront points and fees.

A former official at Bank of America Corp.’s Countrywide unit said he went to federal authorities and filed a whistleblower lawsuit after learning the government might settle with the lender.

The Federal Housing Administration has asked the Treasury Department for a $1.7 billion bailout, but its commissioner and others say the agency does not actually need the money.

Federal Reserve Bank of Kansas City president Esther George said labor-market gains warrant tapering the Fed’s bond purchases immediately and halting buying by mid-2014.

We're hearing that a government shutdown is coming and this time it could hurt the housing recovery.

The mortgage industry is looking favorably on the latest Federal Reserve Board easing plan.

Interest rates are likely to remain stable at least through January and the first quarter of next year.

The risk of income application fraud rose 13% year over year in the second quarter, according to CoreLogic's predictive scoring of fraud incidence in an estimated 2.4 million mortgage applications.

JPMorgan Chase’s negotiations with federal and state authorities to resolve a series of investigations tied to mortgage bonds are focusing on a potential $11 billion figure.