Compliance

In expanding its note sale pilot program, the Department of Housing and Urban Development is imposing new certification requirements on servicers that are willing to assign defaulted FHA loans for the upcoming sales.

Out of the 92 actions filed by Pennsylvania's Bureau of Compliance, 90 orders were against companies for statutory violations, resulting in fines of $277,525.

Chicago is the latest city to pass a resolution to hold hearings on whether to use eminent domain to seize underwater mortgages from private investors.

In total, more than $10 million in fraudulent mortgages on more than 40 properties were obtained during the conspiracy.

Several large and regional banks have disclosed what their capital ratios would look like if Basel III were in effect now and early results show that First Horizon National, Huntington Bancshares, SunTrust Banks and TCF Financial would take the biggest capital hits if they do not take steps to change their asset mix.

The Consumer Financial Protection Bureau has formalized a trend toward regulators holding the industry increasingly responsible for having a mechanism in place to police their own compliance, and they are nearing the point at which they might be starting to make sure the industry is in fact doing this.

Distressed homeowners have received only 10% of nearly $46 billion in federal aid since the money was allocated in 2009 under the Troubled Asset Relief Program.

What's a mortgage loan originator to do when he discovers that one of the trade lines in an applicant's credit report actually belongs to a relative with a very similar name?

New advances are providing technology to mortgage industry and secondary market participants that allows them to access detailed information about residential mortgage-backed securities.

Although there still are risks to be accounted for, Wayne Tew believes this is a good time to be in the mortgage business.

The California attorney general said three business owners who ran a national loan modification scam for over a year have to pay a least $4 million in restitution.

Company leaders think the REO-to-rental strategy is the future wave of the industry since most Americans, particularly young adults, do not view homeownership as a stable investment.

The field service company’s contractors can make face-to-face contact with a borrower to help determine if he or she is actively serving in the military.

Forget refinancing. A new hypothesis suggests targeted modifications would be much more effective in easing the negative equity crisis.

A Federal Reserve Board proposal to enact strict limits on how much credit exposure the largest banks can have to a major counterparty has significant design flaws that could raise the cost of credit, according to new analysis by the Clearing House.

CoreLogic earned $41 million off revenue of $389 million during the second quarter of 2012—new records for the company which was spun off from the First American Corp. in June 2010.

The Consumer Financial Protection Bureau is working on a qualified mortgage rule that will allow the mortgage market to meet the needs of borrowers “throughout the credit cycle,” agency chief Richard Cordray said in new testimony Tuesday morning.

Monday marked the implementation deadline for the Uniform Loan Delivery Dataset, the new loan-level mortgage information file format developed by Fannie Mae and Freddie Mac for all loans sold to the government-sponsored enterprises.

Treasury Secretary Timothy Geithner's appearance this week on Capitol Hill is instead expected to focus primarily on alleged manipulation of the London interbank offered rate.

When it comes to automation technology, servicers are faced with a myriad of choices between traditional, in-house software versus vendor-hosted services, or software-as-a-service delivery options.