Compliance

Dissatisfaction is growing in Congress with the Obama administration’s decision to leave mortgage investors out of talks that led to a $25 billion settlement.

Dissatisfaction is growing in Congress with the Obama administration’s decision to leave mortgage investors out of talks that led to a $25 billion settlement.

The Fourth Circuit Court of Appeals sided with the Consumer Financial Protection Bureau’s reasoning in an amicus brief and broke ranks with other courts in ruling on a borrower’s right to rescind and void a mortgage contract.

The Federal Housing Administration will begin collecting full, electronic appraisal reports for the mortgages that it insures.

The FHFA has created a financial incentive for executives at Fannie Mae and Freddie Mac to ensure that deadlines for the Uniform Mortgage Data Program are met.

New findings show persisting foreclosure problems in the nation’s 100 largest metro areas are deteriorating for the first time in over six quarters.

Today's mortgage bankers have to accept very, very long audits as a marketplace reality. Whether they find auditors likeable and useful, on the other hand, is highly disputable.

TriLyn has formed an investment management platform focused on opportunities in high-yield commercial real estate debt.

A group of Wall Street banks and ratings agencies told a federal court in Miami that “greed” and the need to grow earnings was responsible for the 2009 demise of Eastern Financial Florida CU, the one-time $2.4 billion credit union, not alleged fraud on their part in the sale of $100 million of risky financial derivatives known as collateralized debt obligations.

Assured Guaranty Ltd. posted a small profit for the first quarter of 2012 and last week announced a deal with Deutsche Bank over soured mortgage backed securities.

Congress is not likely to pass recently proposed legislation that would reform the Home Affordable Refinance Program and promote competition among mortgage servicers, according to analysts at the Royal Bank of Scotland.

President Obama traveled to a couple's home in Reno, Nev., on Friday in his effort to pressure Congress into passing legislation that would allow more Americans to refinance their mortgages.

The California Association of Realtors and the California District Attorneys Association have launched a campaign to warn homeowners about the alarming increase in scams targeting foreclosure victims.

Under the servicing settlement, state funds are supposed to be used “to avoid preventable foreclosures” and “ameliorate the effects of the foreclosure crisis.”

The owners of a Los Angeles-based real estate company were charged last week by the Securities and Exchange Commission with violating antifraud and securities registration provisions by defrauding investors through a business that had false track records.

The discussion in a number of panel sessions at the Mortgage Bankers Association National Secondary Market Conference in New York on May 6 through 9, was if, let alone when, private capital would return to the industry. In the exhibit hall, much of the vendor focus was on technology and compliance which would ease that transition. Nary a wholesaler or correspondent aggregator was exhibiting.

While the Federal Deposit Insurance Corp. made significant progress Wednesday toward building its new resolution regime, it left a key component still on the table.

If the amendment were to become law, it would impact the posture of the Justice Department in any future negotiations with smaller mortgage servicers that did not participate in the recent settlement with the five largest servicers.

James Delbert McConville, a Fremont man, was sentenced to nearly eight years in prison and must pay more than $7 million in restitution after being convicted of conspiring to commit mail and wire fraud, federal prosecutors said.

One of the nation’s largest nontraded real estate investment trusts, Inland American Real Estate Trust Inc., is under investigation by the Securities and Exchange Commission for potential violations of securities laws regarding its fees and administration.