Compliance

FHFA auditors are in the process of identifying lenders which sold “materially deficient” mortgages to the GSEs and will bring civil damage claims against these seller/servicers.

Secure Settlements has developed a proprietary risk analysis software that references national databases and a risk rating system to verify closing companies and individuals in real time and provide a standardized evaluation and reporting platform for mortgage originators.

Mortgage servicing rules will enhance the relationship between servicers and special servicers in the short term.

Standard & Poor’s warned that the entrance of new and lesser known special servicing firms can overcrowd the market and complicate the servicing process.

Freddie Mac’s approach to the first HARP refinancing program resulted in faster prepayment speeds on its securitized mortgages compared to Fannie Mae MBS, according to a new report from Amherst Securities Group.

Determining a portfolio’s exact level of risk is particularly challenging due, in part, to the sheer volume of data and information requiring thorough review.

Attus Technologies, a provider of regulatory compliance products, has introduced six new Dodd-Frank Act planning and mortgage reform compliance self-assessment modules to its Managed Compliance Service.

The Treasury Department’s announcement Friday that it was restructuring its ongoing bailout of Fannie Mae and Freddie Mac caught most observers off guard.

Because of the stabilization in house prices, neither government-sponsored enterprise has had to borrow significant money from the Treasury since the beginning of the year, leaving the total tab for their bailout at around $190 billion.

Given the pace and complexity of changes impacting the mortgage industry, getting it right the first time can be quite a challenge.

This product helps lenders meet Fannie Mae’s Loan Quality Initiative recommendations and check borrower credit activity during the processing of a mortgage.

Glen Ward promised to delay foreclosures for distressed homeowners as long as they could pay him $700 a month.

The upcoming presidential election will have a significant impact on compliance but will not cause it to decrease.

Unlicensed origination activity by loan officers is occurring "at a surprising rate."

Starting in September Bank of America has agreed to use the Web portal of Hope Now, in a move the alliance sees as “a game changer.”

The latest legal cases and regulatory actions from around the nation.

Bank of America’s alliance with Hope LoanPort may give a new boost to the number of modifications completed hereon.

Data on the loans municipalities are being advised to target show fewer underwater mortgages are defaulting and when borrowers stop paying, modifications increasingly include balance cuts.

Shortly, the Federal Housing Finance Agency will come out with its parameters on what can – and can’t – trigger a buyback request from their wards, Fannie Mae and Freddie Mac.

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