Compliance

Credit unions are worried a proposal by the Financial Accounting Standards Board to use an expected loss method to measure loan losses will require them to increase loan loss reserves and are calling on the FASB to withdraw the proposal.

FBI agents arrested a New York man for allegedly defrauding investors of $50 million in a real estate Ponzi scheme.

The Bipartisan Policy Center's Housing Commission recommends a model similar to Ginnie Mae, where approved lenders are the issuers of mortgage-backed securities.

A unit of Bank of America Corp.’s Merrill Lynch was sued by a trust seeking more than $309 million in damages for alleged breaches of representations and warranties related to the sale of more than 5,000 mortgages.

PMI Group Inc. said a “well-known private-equity investor” ended talks about taking a minority stake in the reorganized company.

Fannie Mae and Freddie Mac are poised to begin funneling healthy quarterly revenue back to the U.S Treasury as the housing market rebounds.

Learn the top three warning signs that there may be trouble with an originator that could lead to legal/compliance risks.

Effective April 1, insurance premiums on FHA loans will go up challenging borrowers and lenders to choose between federally insured loans and private insurance options.

The California attorney general has provided the National Housing Law Center a $1 million grant to spread the word about a new mortgage servicing law.

Instead of renewing an exclusivity clause with NextJob, Fifth Third has agreed to make NextJob’s Homeowner Reemployment program available to all financial institutions.

First American Financial Corp. said that Mark Oman has been appointed to the company’s board of directors.

The Consumer Financial Protection Bureau has received 50,000 consumer complaints about mortgages lenders, brokers and servicers since November 2011.

The mortgage industry may be making some headway against fraud, but it still has a long way to go.

You know the type: The originator who wakes up each morning with absolutely no idea what he's going to do for the day or from where his next loan will come. The originator starts the morning daydreaming about what’s to come over the weekend, or what could happen if he or she were to suddenly have a booming pipeline of business.

It’s a good time to be a special servicer.

GSO Capital Partners will make available up to $150 million as part of a land banking arrangement.

The Federal Housing Finance Agency has proposed banning force-placed insurance commissions in a blow to banks and other mortgage servicers.

Starting in July, Freddie Mac will make it easier for distressed borrowers who are having trouble meeting their monthly mortgage payments obtain a loan modification.

At least one insider sees no return to a normal level of mortgage litigation for the foreseeable future.

The National Crime Prevention Council is hosting a virtual conference on how consumers, lenders and servicers can prevent mortgage fraud from occurring.