Compliance

A New Jersey man faces 60 months in prison followed by three years of supervised release as well as more than $700,000 in restitution payments in the wake of his guilty plea to fraud and money laundering charges in a Lancaster, Pa., area real estate scam.

A common refrain in Washington these days is that the Federal Housing Administration plays an outsize role in the mortgage market and should return to its traditional market share of 10% to 15%.

Treasury Secretary Jacob Lew said a one-time payment from Fannie Mae confirms that the nation’s debt ceiling won’t be reached until September.

KeyBank Real Estate Capital has agreed to purchase billions in commercial mortgage servicing rights from Bank of America, which will single handedly bring KeyBank’s CMBS servicing portfolio to the nation's top three.

The additional services that North County Property Group is now providing clients include a 10-point property marketing program, REO portfolio services, eviction services, and a referral program for cooperating real estate brokers and agents.

The Securities and Exchange Commission has charged the City of Harrisburg, Pa., for misleading investors about its financial health.

In the post-crisis housing market appraisal reports are becoming as important as credit scores, requiring lenders and servicers to be more inventive with the tools they use to assess real estate value risks.

It appears that one of the chief enforcement tools of the Consumer Financial Protection Bureau is the use of the horizontal audit.

MBIA Inc. started the year off much better this year than it did last year, with an adjusted pretax loss of only $20 million for the first quarter compared to $548 million in 2012.

Industry leaders participated in a roundtable discussing the latest trends in mortgage fraud and what lenders and servicers can do to detect illegal loan applications they receiver from a borrower.

The refinancing boom is stressing lender capacity, according to a Federal Reserve governor, and it provides a partial explanation for the low level of purchase-mortgage originations.

Market data including findings from various mortgage delinquency reports are simultaneously pointing to a housing market recovery and emanating uncertainty.

Mary Armstrong pled guilty to all five counts of an indictment charging her with wire fraud, money laundering and conspiracy.

Timothy Shannahan became the fourth person to admit conspiring with Kathryn Sylvester, the former CEO of Sylvester Financial Inc., to commit mortgage fraud.

Mortgage Grapevine poster UpstateMortgageGuy is asking how can someone close loans for professionals like doctors and teachers who are not getting paid during the summer.

In the Illinois Legislature a bill has overwhelmingly passed the House which is designed to reduce the filing of fraudulent documents with the county recorder of deeds.

First-quarter earnings confirm that recent mortgage servicing portfolio purchases already have and will continue to strengthen the financial performance of Walter Investment Management Corp.

The Census Bureau recently reported that the U.S. homeownership rate fell to 65% in the first quarter, down from 65.4 % a year earlier, putting it at its lowest level since the third quarter of 1995.

Cerberus Capital Management is entering the booming market for single-family homes to rent.