Compliance

Cashmere Valley is turning to outsourcing to help make sense of the complicated legislation that after two years is still developing as provisions get delayed, clarified or rewritten. For banks with assets of less than $10 billion, it's not even clear which parts of the law apply.

Land Home Financial Services entered into a $20,000 settlement with the HUD over alleged violations of the Fair Housing Act involving an application where the wife was on maternity leave.

If the government is bent on winding down Fannie Mae and Freddie Mac sooner rather than later, then it helps that some major lenders are committing to buy back soured loans from the government-sponsored enterprises all at once, rather than quarter by quarter.

The Consumer Financial Protection Bureau offered new details about how the agency will examine large credit-reporting firms.

Plenty of mortgage banking firms are lining up to get their Ginnie Mae approvals so they can issue government-backed mortgage bonds and service the underlying loans.

Fannie Mae Chief Economist Doug Duncan explains the correlation between rising student loan debt and its impact on household formation and mortgage originations.

The Consumer Financial Protection Bureau's enforcement guide explicitly requires lenders to have chief compliance officers, but what does that really mean?

U.S. state attorneys general are pressing four regional banks to accept a legal settlement over botched foreclosures similar to a deal reached with larger competitors earlier this year

The new rules for calculating risk-weighted assets will have a particularly dramatic impact on the capital needed to support a mortgage-banking platform.

Banks are spending lots of money fighting fraud, but security experts say they could do better when it comes to mitigating fraud and detecting money laundering.

The National Credit Union Administration has filed suit against UBS Securities claiming securities fraud in the sale of $1.1 billion of MBS.

Tommy Lister is one of three people to admit guilt so far in mortgage fraud scheme in California.

The Federal Housing Administration said 56% of the 54,000 borrowers in default on their FHA Home Equity Conversion Mortgage are participating in a “repayment plan to pay off their outstanding T&I debt.”

United Guaranty Corp. says servicers for loans it provides mortgage insurance on where borrowers were affected by Hurricane Isaac will not need prior approval from the MI for implementing forbearance measures.

They contend that the ‘Qualified Mortgage’ rule that the Consumer Financial Protection Bureau is working on will rid the marketplace of “irresponsible underwriting and toxic loan terms.”

Simple messages communicated repeatedly over multiple mediums yield the most successful communication strategies.

Now that California has codified the national mortgage servicing settlement, are other attorneys general going to “follow the leader” and enact this type of legislation within their state?

A non-partisan group says the Federal government’s efforts to prosecute subprime wrongdoers – particularly on Wall Street – has fallen short and is asking for new, tougher laws on white collar crime.

Mortgage insurance may get a break from the new Basel III capital rules.

There is a movement toward retaining servicing rights benefits. It involves originators and the wider mortgage industry.