Compliance

Carrington Holding Co. hired Bill King as its chief investment officer and head of asset and risk management.

The National Reverse Mortgage Lenders Association has asked a federal regulator to craft a ‘qualified mortgage’ rule specifically for private reverse mortgages.

A former police officer and his wife began trial yesterday for allegedly causing some $210,000 of damages to their $1 million house after their credit union, San Diego Metropolitan CU, foreclosed on them two years ago.

Sen. David Vitter, R-La., is trying to force the Senate to quickly pass a five-year reauthorization of the flood insurance program this week.

Some loan officers hate appraisal management companies (AMCs) and here’s why: Several megabanks control AMCs through joint ventures and are making huge fee income while paying rank and file appraisers little.

The risk of material breach of representations and warranties "should be on the issuer," not the investor.

The Modification Team LLC, a Lawrenceville, Ga.-based mortgage business that offers services related to property sales, modifications and notaries, was issued a cease-and-desist order from the state’s Department of Banking and Finance.

The Federal Housing Administration’s single-family program is facing headwinds as the HUD secretary tries to keep the insurance fund above water and appease critics who want to reign in government programs.

Genworth Financial—which has been losing market share to rivals Radian and United Guaranty—this week made the decision to reduce its mortgage insurance rates for borrowers with loan-to-value ratios equal to or less than 95%.

Lenders, for the first time, are facing the possibility of paying "actual damages" as a result of the “qualified mortgage” definition, an attorney warned attendees at the Mortgage Bankers Association's National Secondary Market Conference in New York.

For the fifth consecutive year, the rate of mortgage fraud increased compared to the prior year. In 2011, there was an 8% rise in year-over-year fraudulent mortgage applications in the United Kingdom.

A Houston family has been sentenced to federal prison for running a multi-million dollar mortgage fraud scheme that resulted in at least 70 homeowners defaulting on their mortgage payments.

The New York Federal Reserve has initiated a competitive bid in response to reverse inquiries for the holdings in two mortgage-related Triaxx collateralized debt obligations in the Maiden Lane III portfolio.

Annaly Capital Management Inc.generated a GAAP gain over the previous and year-ago quarters, and relatively stable earnings outside of unrealized gains or losses on financial instruments.

A new Federal Housing Finance Agency initiative will require the government-sponsored enterprise to create a common data standard and new servicing form under the Uniform Mortgage Data Program.

The Federal Reserve Board on Wednesday disclosed details of a private meeting held with chief executives of several major U.S. banks on efforts to overhaul the financial system.

From time to time I hear appraisers talk about the fact that they feel undervalued, and that the business they’re in is becoming increasingly difficult. Some feel it’s a downright hostile environment for appraisers today.

Wells Fargo plans to give its underwriters more control in approving mortgages that it retains in its own portfolio, as the bank tries to add high-quality assets to its balance sheet.

The risk that securitized commercial mortgages from the years of loose underwriting will have trouble refinancing at maturity is largely said to have not materialized, but a report last week indicates it is still an outstanding risk both domestically and internationally.

House Democrats said Tuesday that a Fannie Mae program to reduce mortgage principal was killed two years ago by ideologically blinded officials who ignored projections that the plan would save taxpayers money.