Compliance

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.

After reaching its lowest mark in almost three years in the first three months of 2012, Interthinx’s national mortgage fraud risk index trended up again in the second quarter.

Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, will be the keynote speaker at National Mortgage News’ 2nd annual Mortgage Regulatory Forum on Thursday, Sept. 13 in Arlington, Va.

Fannie Mae is pressing its seller/servicers to repurchase $14.5 billion of bad mortgages but only a small portion of those buyback requests involve loans originated after 2008.

Will other correspondent buyers of residential loans follow in the wake of PHH Mortgage and exit the third-party channel?

Two identifiers will determine whether the single-family rental market securitization product will be successful: the local employment base and desirability of the neighborhood.

Controversy about what method leads to higher real estate valuation accuracy and realistic pricing is keeping up competition between vendors striving to custom fit their tools to the changing needs of their lender and servicer clients.

MetLife, the insurer seeking an exit from banking to limit U.S. regulation, was penalized $3.2 million by the Federal Reserve for lapses tied to the servicing of loans and handling of foreclosures.

The CoreLogic house price index rose for the fourth consecutive month in June and the vendor’s chief executive expects prices will remain positive during the second-half of this year.

Based on his public comments, DeMarco is not unsympathetic to the plight of underwater (but current) borrowers but there is no doubt in his mind that the adoption of a principal reduction program would spur a massive wave of strategic defaults by GSE mortgagors.

The web portal will provide homeowners with information that helps them make knowledgeable decisions about what foreclosure alternative options are available to pursue.