Compliance

One credit union expert told Congress that credit unions should have a major role in creating and overseeing a proposed federally backed secondary mortgage market agency in the case of a wind-down of Fannie Mae and Freddie Mac.

Michigan Legal Services and five African-American homeowners in Detroit claimed to be victims of Morgan Stanley’s practice of purchasing and financing predatory mortgages, which were later bundled into mortgage-backed securities.

For investors who have thrown big wads of cash toward the “safety” of long-term bonds, the end of low interest rates will not be a welcome one.

UBS agreed to pay $885 million to Fannie Mae and Freddie Mac to settle claims that it improperly sold them mortgage-backed securities during the housing bubble.

Freddie Mac may seek credit ratings in the next offering of the firm’s new securities sharing its mortgage-default risks with investors.

With the recent uptick, banks are rushing to either reinvigorate their construction funding desks or establish new construction lending units.

We're hearing from the great state of Minnesota where a court last week issued a decision involving a claim for money damages and rescission of a mortgage loan based on the alleged failure of the lender to provide a Truth in Lending Act form to the buyers at closing.

While First American saw a decline in 2Q13 net earnings on a year-over-year basis, rivals Old Republic International and Stewart Information Service both reported increases.

Castle & Cooke Mortgage claims it did not make illegal incentive payments to its loan officers, as alleged by the Consumer Financial Protection Bureau.

Freddie Mac’s $500 million of risk-sharing debt sold recently may not give the firm as much protection against homeowner defaults as policy makers seek.

In the second year of the U.S. housing recovery, the loans that helped trigger the housing bust are making a comeback.

NYCmortgageLO posts on the Mortgage Grapevine that a client had a large deposit in his or her bank account in March, but no large deposits in the more than 90 days since.

The gulf between two competing plans to reform the nation's housing finance system appeared ever wider Tuesday even though House Republicans were poised to advance their bill to a full floor vote.

Distressed homeowners are redefaulting in droves on loan modifications received through a government program.

A steep rise in home values that resulted in a new wave of foreclosure starts in California during the second quarter was not enough to eliminate gains of recent years indicating the state's housing recovery will prevail.

According to evidence presented during the six-day trial, Daren Gadsden transferred funds from the HABC bank account to an account he set up with co-conspirators.

The Consumer Financial Protection Bureau has sued a mortgage lender for allegedly violating the loan officer compensation rule by paying bonuses to LOs that charge consumers higher interest rates.

While Detroit’s troubles are not new, its Chapter 9 bankruptcy filing is triggering national concern over whether it is a sign of more trouble to come.

Freddie Mac increased the size of its sale of a new type of debt tied to the risk that homeowners will fail to repay their mortgages.

The bonds were all previously rated either CCCsf, CCsf, or Csf, which indicates that Fitch expected a default.