Compliance

A company that has been helping to mitigate strategic default risk with borrower incentives for on-time payments, now is more broadly offering to help clients mitigate certain second-lien loan balance sheet concerns through rewards for accelerated pay-downs.

An appellate court decision earlier this month would provide a new avenue for borrowers to file suit against mortgage servicers that deny permanent modifications under the Home Affordable Modification Program.

On March 7, U.S. District Judge Neil V. Wake sentenced Paige Kinney, aka Jamielee Miller, to 15 years in prison. Kinney had previously pleaded guilty to various charges related to a mortgage fraud scheme and to charges of bankruptcy fraud, wire fraud, mail fraud, and bank fraud in two separate indictments.

Last year's repeal of the final remaining vestige of Regulation Q, the prohibition of payment of interest on business demand deposits, at long last completed a pro-competitive process which began with the Monetary Control Act of 1980. The repeal was and is a good idea.

Collateral Intelligence has signed on with FICO to provide valuation and support for the credit risk provider’s analytic solution that predicts borrowers who are at risk of strategically defaulting on their mortgages.

Despite a $25 billion national mortgage servicing settlement being filed that provides assistance for homeowners to compensate for faulty foreclosure practices that occurred following the housing market crash, scammers were still prepared to capitalize on the vulnerability of desperate homeowners.

The $25 billion national mortgage settlement essentially allows the five largest servicers to police themselves - which has made many consumer advocates surprisingly happy.

If we’re going to tackle our industry’s areas of weakness, we need to be able to define risk. We need a standardized way to classify the various types of risk.

It's undeniable that small business is the growth engine of the economy that also helps stimulate the housing market recovery. Many of the third-party service providers, such as special servicers and foreclosure counseling agencies are small size business companies.

The Lawyers' Committee and counsel Davis Polk & Wardwell filed a lawsuit this week in New York Supreme Court in Nassau County on behalf of 18 homeowners claiming that a network of for-profit loan modification companies conducted a scam on them.

Slight rises in delinquency rates in the fourth quarter on credit cards and mortgages contributed to the index's increase

Bank of America, JPMorgan Chase, and three other residential servicers agreed to pay $25 million to New York State to resolve certain monetary claims over the use of the MERS database after reaching a $25 billion national settlement on robo-signing charges.

The release of the last few details of the $25 billion mortgage servicing settlement this week revealed a deal that was, overall, not quite as bad for the banks/mega-servicers as many observers and analysts expected.

The Securities and Exchange Commission Tuesday sued the former top executives of now defunct 'super' jumbo lender Thornburg Mortgage, accusing the trio of hiding the firm's deteriorating financial condition and overstating income by $400 million.

Moving unexpectedly two days ahead of schedule, the Federal Reserve Board released the results of its annual stress test Tuesday afternoon, with certain large banks emerging as the strongest among their competitors.

A lawsuit filed by the county register of deeds in Guilford County, N.C. Tuesday claims mortgage documents in its records were 'robo-signed' in the name of Mortgage Electronic Registration Systems Inc. and wants a court to appoint a "Special Master" to determine which documents are fraudulent and require servicers to refile documents.

As fraudsters reinvent themselves, insiders warn about recent increases in short-sale fraud and call for preventive monitoring.

Every housing market investor has a certain mindset that guides decisions as to where to put their money, why, and when. Optimally, this "investment mentality" is not concerned with consumption or waste, but rather is focused on how to minimize risk and multiply hard earned dollars.

Swamped by huge volumes of delinquent mortgages, servicing managers at Bank of America, and Wells Fargo & Co. placed heavy pressure on staff to speed up handling of documents used to process foreclosures without properly reviewing their work, according to HUD audits released Tuesday.

The Lawyers’ Committee and counsel Davis Polk & Wardwell filed a lawsuit this week in New York Supreme Court in Nassau County on behalf of 18 homeowners claiming that a network of for-profit loan modification companies are conducting a fraudulent scam.