Compliance

On July 17, a 26-count indictment was unsealed charging Eliseo Jara Jr., Sergio Jara, Antonio Perez Marcial, Lucia Yolanda Chavez, Arlene Jeanette Jara, Candace Shantel Gonzales, Joseph Shawn Chavez Jr., Melissa Rochelle Jara and Ricardo Fabian Salinas in a mortgage fraud conspiracy. The indictment was returned on July 12 by a federal grand jury in Fresno and the defendants were arrested at their residences on July 17.

An Oregon homeowner’s fight against Merscorp Holdings was revived after a state appellate court reversed a lower court’s decision to rule in favor of the owner of the Mortgage Electronic Registration Systems before the case went to trial.

Bank of America is growing its retail residential mortgage originations and hiring loan officers even as it continues to cut back debt and expenses in other areas.

FraudGuard and PredProtect have received assessments from SecureInfo that shows both of these tools have low security risk.

One legal expert says the use of eminent domain to seize mortgages out of private-label securities would diminish the value of the overall pool of securitized loans.

Drawing the line between regulatory failures and regulatory implementation failures is not an easy task.

Home Loan Servicing Solutions acquired certain non-agency mortgage servicing assets with unpaid principal balances from Ocwen earlier this year.The impact has picked up its second quarter results.

Currently, borrowers in communities outside of metropolitan statistical areas with populations below 10,000 are eligible for RHS-guaranteed loans.

As commercial loans continue to default at a brisk pace, the controlling classes of certificate holders in CMBS are likely to change with increasing frequency.

A Utah man pleaded guilty in federal court for his role in a multimillion-dollar mortgage fraud scheme that resulted in the illegal flipping of six properties and huge lender losses.

In a letter, 106 House members urged the Consumer Financial Protection Bureau to adopt a qualified mortgage rule that provides lenders with a safe harbor from litigation.

There is much discussion about how housing prices have stabilized lately, implying the housing market is progressing forward into recovery mode. Econ 101 says differently.

Several banks are under investigation for allegedly submitting false information meant to manipulate Libor, a measure used to establish a wide range of interest rates.

With the bucket-load of regulations coming down the pike toward mandatory implementation in our industry, it’s time to track, measure and quantify experience while simultaneously speeding the process, complying with changing rules, and recovering the most dollars.

The economy is in the tank and thousands of people are out of work. In the U.S., given the slow recovery, the housing crisis continues.

Since the start of this year, house prices have risen 2.5% through April 30.

A pair of Orrstown Financial Services executives quit just two months after the company's chief financial officer resigned.

Attorneys general in at least three states are conducting investigations tied to alleged manipulation of the London interbank offered rate, adding to probes by U.S. and U.K. authorities.

A regulator will allow bond insurer MBIA Inc. to make a payment on surplus notes issued in 2008.

Mary Armstrong, an unlicensed mortgage broker, Teresa Rose, a real estate agent, William Fountain, Armstrong’s assistant, and Justin Mensen were all charged with conspiracy to commit wire fraud and to launder money.