Compliance

New York Attorney General Eric Schneiderman has introduced the Foreclosure Fraud Prevention Act of 2012 to the State Legislature that defines residential mortgage foreclosure fraud and imposes new penalties for those who intentionally engage in illegal activity within the state.

A federal court panel said Bank of America can't consolidate multiple lawsuits involving losses suffered from the collapse of Taylor Bean & Whitaker and Colonial Bank in a multibillion-dollar fraud.

Regardless of your position on the use of MERS as a nominee for the lender, creating a shared, accessible database of record is another reason why lenders and servicers have worked diligently to certify the accuracy of the data entered in the MERS database.

Costco has started to offer mortgages through approved lenders and heavily marketing the program to its 68 million members.

Three attorneys and a former attorney pleaded guilty in Manhattan federal court for conspiring to commit wire and bank fraud in connection with a $66 million mortgage fraud scheme.

A top Federal Reserve official on Tuesday urged regulators to embrace a set of reforms that could be taken to minimize risk in the shadow banking system.

Force-placed insurers operating in New York must lower the premiums they charge, the state's governor and superintendent of financial services announced.

SunTrust Mortgage has named two new executive presidents, hiring industry veterans from PNC Mortgage and IBM Corp.

Experian’s research data show over 20 million underbanked consumers may be eligible for financial products normally reserved for prime credit prospects.

Among Telrock’s lending clients, 40% of borrowers who were contacted through a mobile service paid directly through the device within 30 minutes of receiving the alert.

Careful selection of homebuilder stocks, based on geographic markets and strategies, might be attractive to some investors.

Wells Fargo & Co., the nation's largest home lender and issuer/servicer of GNMA loans, is telling its correspondents and brokers that it will only participate in the FHA's new "Streamline" refi program on loans its services.

More than 1.3 million people received assistance from a foreclosure mitigation counseling program.

The United States, European Union and Japan may be at risk of failing to adopt global standards that will greatly improve the quality and quantity of capital that banks must hold, according to global regulators on Monday.

Last time I wrote about some of the better marketing I saw in the past few weeks as I continue to recover from a leg infection. Unfortunately not all advertising I came across was as strong.

Not too many life and homeowners insurance firms are foregoing rate increases and rebating money to their insured.

Mortgage default risk is adjusting to precrisis levels. Almost.

The UFA Default Risk Index for the second quarter of 2012 increased slightly to 120 from last quarter’s revised 119 that was based on the UFA baseline macro scenario.

A federal judge ruled in favor of two investors involved in litigation against Bank of America offering an alternative insiders see as self-help in mitigating conflicts of interest between lenders and investors of asset-backed commercial paper.

A federal judge has ruled in favor of two investors involved in litigation against Bank of America.