Compliance

Investors believed that their investments were secured by real estate and promised 40% annual returns.

A litany of new mortgage rules has been issued this week by the Consumer Financial Protection Bureau.

Bank of America and JPMorgan Chase said that they have fulfilled the requirements of the $25 billion national mortgage settlement.

The city of Richmond, Calif., and Mortgage Resolution Partners told a federal judge that a bondholders’ lawsuit seeking to block it from helping homeowners by seizing mortgages through eminent domain is premature.

Real Estate Services and Technology Report has updated its loan disposition calculation software with the new HAMP guidelines that expand and extend the program through the end of 2015.

The Federal Housing Finance Agency is opposed to the idea of local or state governments using eminent domain to restructure mortgage loans, especially loans involving the GSEs.

A Florida title agent and former mortgage broker has been sentenced for her role in a reverse mortgage loan fraud scheme.

An update sent to the monitor of the national mortgage settlement by the five banks that participate in the agreement showing they dispersed $51.33 billion in consumer relief assistance through June 30 is under review.

Fannie Mae was able to extract an $11.6 billion mortgage-repurchase settlement from Bank of America this year because the bank needed Fannie's approval to sell billions of dollars in servicing rights.

JPMorgan and Assured reached an agreement resolving the claims this month, according to a filing with the Securities and Exchange Commission dated Aug. 9.

The National Community Reinvestment Coalition unveiled a new white paper that outlines two alternative proposals for integrating affordable housing into the larger mortgage finance reform debate.

Best practices will have big implications for the industry going forward.

Examiners from the Consumer Financial Protection Bureau discovered that some nonbank servicers don’t have effective compliance management systems to ensure they are following federal consumer protection laws.

Treasury 10-year notes fell on Wednesday after minutes of the Federal Reserve’s July meeting showed policy makers were “broadly comfortable” with a plan to curtail bond purchases.

It is important for borrowers to shop around and find out whether an adjustable or fixed rate mortgage best fits their needs.

Five states top a new LendingTree report that analyzes the financial health of prospective borrowers ranking each state based on a 100-point scale.

As the housing market moves on the path towards recovery, mortgage fraud is a crime of economic opportunity in which scammers are still taking advantage of distressed borrowers.

The default rate for first mortgages was 1.25% in July, up from last month’s low point of 1.23%, while second mortgage defaults “remained flat since last month at its historic low of 0.54%.”

From January 2012 to December 2012, there were 69,277 MLF SARs reported compared to 92,561 throughout the year before.

A poster on the Mortgage Grapevine is asking for what originators and borrowers have experienced using credit repair services.