Compliance

The settlement between regulators and 10 residential loan servicing companies may have a positive effect on the market, as it allows them to refocus on their core servicing operations, other compliance requirements and the foreclosure backlog.

Billionaire Leonard Blavatnik accused JPMorgan Chase & Co. of losing 10% of the $1 billion he gave the bank to manage by making unauthorized investments in subprime mortgages.

Federal Reserve Bank of Atlanta president Dennis Lockhart said while he’s supported the central bank’s open-ended bond purchases so far, further expansion of a record stimulus will complicate the eventual shrinking of the balance sheet.

The Consumer Financial Protection Bureau has finally issued the long-awaited qualified mortgage rule and it shows the new agency can be flexible and creative at times.

Wells Fargo executives said in an earnings call that they are still optimistic about originations, even though the company suffered a sequential quarterly decline they attributed to its exit from the wholesale channel and seasonal factors.

A “builder bailout” real estate scheme where more than 100 condominium units with mortgages that defaulted, resulting in foreclosures and substantial losses for lenders, has been stopped.

California cities may use $1,000 daily fines to fight neighborhood blight and put locals to work.And it is not a legal loophole.

The U.S. Department of Housing and Urban Development is keeping servicers of first-lien government insured loans on multifamily unit properties on a shorter leash.

White House Chief of Staff Jacob Lew is something of an unknown quantity to the financial services industry.

Ohio became the first state to enact a new law that creates less rigid licensing regulations for mortgage originators.

Fannie Mae and Freddie Mac were sued for unpaid transfer taxes by a Maryland county.

DebtX has signed a new five-year agreement with the Federal Deposit Insurance Corp. to sell assets held as receivership in the U.S. government corporation’s portfolio.

Like many other small business owners who survived the fiscal cliff fiasco, many small shops in the mortgage market are bracing for yet another government-induced crisis as early as mid-February when our national debt hits its ceiling.

Federal Reserve Bank of Philadelphia president Charles Plosser said the central bank’s record stimulus risks a surge in inflation and may impair efforts by households to repair their finances.

New Canadian covered bond rules include a requirement that Fitch finds effectively protects bondholders from home price depreciation.

Some attorneys who prey on vulnerable homeowners in need of a modification are in for a surprise from outraged peers who are trying to make these alleged fraudsters pay back for being a disgrace to their profession.

State Sen. Ron Calderon (D-Montebello) introduced a bill to protect hundreds of thousands of distressed Californians who are underwater on their mortgages from an unjust state tax.

Chang Park cooperated with FBI investigators as part of a deal with the U.S. attorney's office.

The National Credit Union Administration board has approved a new definition of “small credit union” that exempts another 2,400 CUs from risk-based capital and interest-rate risk rules.

The agreement would end case-by-case reviews of foreclosures under earlier accords with the biggest mortgage servicers.