Compliance

Approximately 12.2 million homeowners with a mortgage were in negative equity at the end of the second quarter.

As the industry works feverishly to interpret new guidelines pouring out from the CFPB, there are a large number of changes that must get done between now and the end of this year.

A million dollar residential closing has been postponed on Long Island, N.Y. because of problems obtaining homeowners insurance.

The lawsuit charges Jerry Wilson and EME LLC, with allegedly discriminating against African-American apartment seekers by misrepresenting the availability of housing units at Treva Court Apartments.

The U.S. 10th Circuit Court of Appeals handed NCUA a victory in its lawsuits against Wall Street firms regarding sales of mortgage-backed securities to corporate credit unions.

Henry Seggerman pleaded guilty to conspiracy and two counts related to the filing of false tax returns.

Inlanta Mortgage bills itself as a fast-growing company within the context of the Milwaukee area, but when it came to getting its recent Fannie Mae seller-servicer approval the company was more meticulous than hurried.

The Mortgage Bankers Association is applauding regulators’ efforts to align the Qualified Mortgage and Qualified Residential Mortgage definitions while incorporating feedback from both the industry and customer advocacy groups into the new risk retention rule.

Responding to reports that mortgage lenders and servicers are accepting insurance tracking services from unaffiliated insurance producers, the New York Department of Financial Services is warning all parties involved that this practice is illegal in New York.

Congress banned the use of downpayment assistance on FHA-insured loans in 2008 but one Phoenix lender just got caught for reimbursing charitable housing groups that provided “gift” downpayments to homebuyers.

Federal regulators have agreed to exempt all single-family loans that meet the underwriting standards of the qualified mortgage rule from the 5% risk retention requirements mandated by a newly proposed qualified mortgage rule.

An executive at Calvert Financial in Ashland, Mo., has admitted to using funds from the Troubled Asset Relief Program to buy a luxury condominium.

The federal regulator of Fannie Mae and Freddie Mac is seeking at least $6 billion from JPMorgan Chase to settle a lawsuit over soured mortgage bonds sold to the government-sponsored enterprises.

The concern is that vendors are overbilling borrowers and servicers are not properly monitoring the vendors.

Bank of America must face a trial next month in a lawsuit alleging the bank’s Countrywide unit defrauded Fannie Mae and Freddie Mac by selling them billions of dollars in bad mortgages.

At least in Florida some are seeing a surprise benefit from new regulations—growth in the mortgage broker industry.

The New York attorney general has filed a lawsuit against real estate mogul Donald Trump, Trump University and its former president for engaging “in persistent fraudulent, illegal and deceptive conduct.”

The New York City Housing Development Corp. intends to sell $655 million of capital fund grant program revenue bonds in two series on Wednesday.

Texas A&M University System is preparing to issue $353 million of taxable and tax-exempt revenue bonds for the most costly college stadium renovation in the nation.