Compliance

REITs may have needed to sell about $30 billion of government-backed mortgage securities in just one week last month to maintain the amount of borrowing relative to their net worth.

We're hearing from New York where the attorney general recently filed a law suit against HSBC alleging things which, if true, could help explain why judicial foreclosures take so long.

W.J. Bradley Mortgage Capital executives find deciding whether holding or selling mortgage servicing rights is worthwhile for the company in the long run both tough and rewarding.

Dodd-Frank Act measures designed to prevent a repeat of the global credit crisis will be largely complete by the end of this year.

Bank of America’s proposed $500 million settlement with a class of investors in residential mortgage-backed securities issued by its Countrywide Financial unit needs more explanation before it can be approved.

WFG National Title Insurance is making progress towards its goal of becoming a national underwriter of title insurance with the approval by regulators in Michigan to write business there.

The Consumer Financial Protection Bureau has issued a new batch of clarifications to its qualified mortgage and servicing rules.

Jewel Hinkles of Los Angeles pleaded guilty this week to bankruptcy fraud in connection with a foreclosure rescue scheme she ran.

CIFG Assurance North America agreed to settle lawsuits against Goldman Sachs Group and Capital One Financial’s GreenPoint Mortgage Funding over mortgage-backed securities.

Kevin Derricott of Rocklin, Calif., now faces 20 months in prison for his role in a scheme to defraud lenders out of millions of dollars.

The Financial Stability Oversight Council unanimously voted Tuesday to designate American International Group and GE Capital as systemically important financial institutions.

Volatile interest rates have been pressuring down mortgage REIT portfolio values leading to historically low quarter earnings not likely to improve until 2014.

Global DMS said its valuation management software has been integrated with DataQuick’s collateral validation analytics solution.

GreenPoint Mortgage Funding was sued over about $400 million in losses on mortgage-backed securities by investor trustee U.S. Bancorp.

The Mortgage Bankers Association succeeded in getting a U.S. appeals court to overturn a Department of Labor interpretation that mortgage loan officers are entitled to overtime pay.

Republican members of the House Financial Services Committee expressed concern this morning that the Consumer Financial Protection Bureau is collecting personal purchasing information on tens of millions of Americans in contravention of privacy requirements contained in the Dodd-Frank Act.

A $36 million mortgage fraud scam run by Jack Coppenger in Ohio and Florida has resulted in a 10-year prison sentence.

Fannie Mae and Freddie Mac worked with more than 130,000 borrowers during the first quarter to help troubled borrowers who were at risk of foreclosure not lose their property.

Nevada’s housing markets are recovering at a faster pace than the rest of the country, but still have a long way to go.

The National Low Income Housing Coalition has sued the Federal Housing Finance Agency for failing to fund the National Housing Trust Fund that Congress created in 2008 to finance affordable housing.