Compliance

The first baseline report detailing progress under the $25 billion servicing settlement will be issued by the end of the month, according to the independent monitor appointed to oversee the agreement between five major servicers and 49 states.

Among the issues to be considered in creating the right match between lender and provider is culture, capability and flexibility

Fannie Mae and Freddie Mac have expanded efforts to get refunds on soured mortgages, boosting the cost of faulty home loans at the biggest U.S. banks since 2007 to at least $84 billion.

So far this year, 39 banks have shut down. This is down substantially from 61 and 108 that closed during the same time period a year ago and through July 2010, respectively.

Analysts are warning that, if implemented, the new mortgage servicing rules proposed by the Consumer Financial Protection Bureau could lead to further market consolidation.

The mortgage servicing market has been experiencing a continued consolidation trend in the recent past.

The CFPB is working on a real estate issue that gets to the core of its purpose: transparency and better disclosures of costly loan process fees.

Fitch has updated its RMBS loan loss model criteria in a move it expects to affect a relatively small percentage of its ratings overall.

It is widely recognized throughout the industry that short sale completions are increasing.

Capacity constraints and issues with cross-servicer refinances remain significant challenges to the Home Affordable Refinance Program.

Through the end of June 2012, the DRE suspended, surrendered and revoked a record 1,109 real estate licenses for the fiscal year within the Golden State.

The FHA has embarked on a desperate attempt to raise capital through settlements with major banks, sales of severely delinquent loans and higher insurance premiums on new borrowers.

Two California business partners were sentenced last week to serve prison terms for operating a mortgage fraud scheme in 2006 to 2007.

The Federal Deposit Insurance Corp. sued banks including JPMorgan Chase & Co. and Citigroup Inc. over $388 million in securities sold to Colonial Bank.

Consumer advocates and financial services industry officials clashed Thursday over whether banks and insurers are getting paid fairly in the force-placed insurance market.

Lenders of all sizes are looking into becoming servicers, bringing us full circle back to the days when virtually every lender serviced their own loans.

In July workouts outnumbered new delinquencies among securitized commercial property loans of all types leading to a 14 basis point decrease in the CMBS delinquency index, according to Fitch Ratings.

Ten people were charged with a $40 million fraud relying on phony documents and straw buyers to bilk mortgage lenders for properties at the New Jersey Shore and resorts in South Carolina and Georgia, prosecutors said.

Federal regulators handed community banks a small but crucial victory on Wednesday, giving them more time to voice concerns over Basel III.

Standard & Poor’s Thursday said it has released revised criteria for monitoring the performance of existing U.S. RMBS and will be using it to rate deals with collateral originated before 2009.