Compliance

A loan officer for a Florida mortgage company was sentenced to more than four years in prison for pleading guilty to committing wire fraud in a $9.2 million mortgage fraud scam.

The Senate is slated to take up and debate a National Flood Insurance Program bill that extends the program for five years.

The Federal Housing Finance Agency has established an anti-fraud initiative ensuring that regulated entities are not exposed to unnecessary risk when doing business with individuals or companies that have a history of fraudulent conduct.

As mortgage industry companies are putting a greater emphasis on technology and the Internet today to create a more successful business, executives across the country need to be aware of tactics that cybercriminals are using to hack into computer systems in order to access financial accounts and other high-level proprietary information.

Major servicers are in various stages of setting up their systems and training personnel to provide struggling homeowners with a single point of contact that they can rely on as they go through the loan modification process.

The New York State Assembly passed a bill that protects homeowners from fraudulent business practices like robo-signing from taking place during the foreclosure process.

Fitch Ratings has issued the first of a series of reports that address recent investor allegations about “servicer specific deficiencies.”

Since the third quarter of 2008, student loan debt outstanding has risen by $293 million, or 47.9%.

Pricing remains the biggest stumbling block in the sale of assets backed by commercial mortgage loans, according to panelists at SourceMedia’s Buying and Selling Distressed Mortgage Portfolios Conference in New York.

As investors look to capitalize on distressed mortgage portfolio opportunities, loan document questions and the role of MERS continue to arise.

Lenders of all different sizes continue to receive buyback requests from Fannie Mae and Freddie Mac—sometimes on loans that are upwards of five years old.

Mortgage cases are shifting to become more fact-intensive, rather than legal-intensive, meaning investors’ attorneys need witnesses to explain the circumstances in a case.

The weak economy throughout the state of Florida is affecting the bond financing of multifamily projects.

Traditionally, underwriting focused on applying a static set of guidelines to determine an approve/reject decision.

The concept of the certified loan is a “game changer” that can help protect lenders from fraudulent applicants.

A group of former policymakers is arguing that the government is not making good use of the regulatory reforms enacted in the Dodd-Frank Act nearly two years ago.

Moody’s noted that improvements in the apartment market have dissipated in recent months after the index soared to roughly 140.

Distressed property rental programs and new private-label mortgage originations pose new opportunities for investors.

It’s somewhat arrogant for a writer to state a numerical list is all that is required to accomplish whatever. If selling is not exhaustively mentioned I would suggest you discount the information because of its lack of thoroughness.

Lenders can try as hard as they want to prevent mortgage fraud, but it always seems that the fraudsters will be one step ahead of them when devising a scheme.