Compliance

Bank of America Corp. is limiting the number of refinance applications it accepts over the phone, telling borrowers who do not have an existing relationship with the bank that they may have to wait 60 to 90 days before their loan application can be processed, a B of A spokesman said Wednesday.

An industry law firm said Wednesday it has formed its own financial fraud enforcement task force following the recent introduction of the Obama Administration's Residential Mortgage-Backed Securities Working Group.

Here’s a current-day dilemma to ponder: a listing agent lands a new bank-owned listing. Before marketing, the property needs an occupancy check, a clean-out, some minor repairs, and a few other maintenance items. Agent hurries to get the sign in the yard. A week or two passes before the bank approves expenses and determines list price based on BPO and appraisal.

Moments before he was scheduled to make a statement on the mortgage servicing settlement Tuesday night, New York Attorney General Eric Schneiderman postponed the conference call indefinitely.

The classic 1895 science fiction novel The Time Machine by H.G. Wells allowed travel to the past and future. According to the most recent Case-Shiller study, home prices have now 'traveled' back to 2003 levels. This represents a 3.7% drop in overall prices since November 2011.

The Financial Crimes Enforcement Network finalized regulations today by which non-bank residential mortgage lenders and originators will have to follow the same rules as other financial institutions.

Yes, thousands of consumers have been wronged by residential servicers that cut corners on their foreclosure paperwork and decided to 'robo' away their workload. But does a consumer who was in arrears deserve to get his house back? It's a question the general media has yet to ask and at the same time it's a difficult question.

DocX and its founder Lorraine Brown have been indicted by a grand jury in Boone County, Mo. for alleged forgery of mortgage documents used to evict distressed borrowers from their homes.

Ask anyone in the mortgage lending business today—the industry is all about managing risk. Why then, has the mortgage business been the culprit for one of the worst risk failures in our country’s history? Where did the system break down?

commercial real estate exposure was the main reason why bank loans failed in January. Nonperforming loans for commercial real estate comprised $363.5 million of the total $487.7 million for the failed banks.

After a yearlong effort to reach a multistate settlement with the top five mortgage servicers, state attorneys general and the firms involved finally appear to be close to a deal. But even before it is signed, there are already questions about how it will be implemented and future litigation risks.

Sometimes opening an appraisal report can feel like being on a bad 70s game show. Door #1 opens to reveal your prize and it's a car, not a coffee cup. Everything's great for two seconds. Then you learn that the car may have a problem that could render it worthless. Then again, it may not. What do you do? Cut your losses and choose Door #2, or invest more time and bank on Door #1?

Assured Guaranty has filed a lawsuit against UBS' real estate securities unit over breach of contract claims.

Risk appetite in the U.S. triparty repo market is slowly returning, according to Fitch Ratings in a new report.

In the past month, the Trepp CMBS delinquency rate has been hovering within a narrow band. For the last three months, the delinquency rate has shifted back and forth only slightly higher and lower. During this process, the rate has not gone over 9.60% or below 9.50%.

FACTS Kenneth A. Swanger, a real estate investor, pleaded guilty in the U.S. District Court in Sacramento to conspiring with a group of real estate speculators who agreed not to bid against each other at certain public real estate foreclosure auctions in San Joaquin County.

The California Attorney General has returned to the 'robo-signing' talks after a four-month absence to possibly take part in a multi-state settlement with the nation's largest residential servicers, according to combined press reports early Monday morning.

The NCUA Board Friday indicated it is working on narrowing down potential parameters under which it may authorize federal credit unions to independently engage in certain derivatives transactions aimed at offsetting mortgage-related risks caused by rate spikes and volatility.

The biggest issue facing the mortgage business this year is regulation. Nobody likes it. Most people would see some as inevitable. What would be too much?

Another state attorney general has filed a lawsuit against Merscorp, this time in New York, where Eric Schneiderman took aim at the thousands of MERS “certifying officers” employed by mortgage servicers whom he alleges filed defective and inaccurate foreclosure documents that deceived and mislead borrowers and courts.