Compliance

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.

A federal indictment charged 11 individuals for their roles in a $15 million mortgage fraud scam that used straw buyers to make illegal profits on overbuilt condominiums in New Jersey.

The September expiration date for the Small Business Administration's secondary market program for the first lien position means that first mortgages will no longer be eligible for a government guarantee.

Market participants believe the availability of new mortgage production is an obstacle to QE3 despite Federal Reserve chairman Ben Bernanke's supportive comments in his semi-annual congressional testimony.

The Texas community banker who's leading the courtroom fight against the Consumer Financial Protection Bureau took his case to Capitol Hill.

Just as lending was starting to catch fire, some banking executives are already pouring cold water.

Habitat for Humanity is expressing concern about the potential impact of the so-called qualified mortgage rule on its ability to build homes for people in need.

In reaction to the mortgage industry’s woes, and in some cases in spite of them, technology has marched on giving us new tools, techniques, and tactics that enhance our ability to be vigilant.

Since agreeing to a consent order with federal regulators last year, Wells Fargo has embarked on an aggressive plan to implement new loss mitigation strategies and improve upon existing practices.

Fannie and Freddie are developing enhanced and aligned strategies for facilitating short sales and deeds-in-lieu of foreclosure and deeds-for-lease in order to help more homeowners avoid foreclosure

With the numerous program guidelines, strategies and other challenges facing mortgage servicers, the ability to rapidly develop and deploy technology is crucial for current and future loss mitigation efforts, according to a panel at the National Mortgage News “Best Practices in Loss Mitigation” Conference in Dallas.