Compliance

Wells Fargo & Co. on Friday agreed to refund up to $10 million of mortgage fees to eligible military veterans who refinanced their residential loans with the bank or its affiliates.

Stewart Information Services Corp., Houston, earned $10 million in the fourth quarter as operational efficiencies in its core title business helped to drive an increase in pretax profits over the same period in 2009.

The House Committee on Oversight and Government Reform late Wednesday issued a subpoena, asking Bank of America to hand over all documents related to Countrywide Financial's 'Friends of Angelo' program by March 7.

Federal regulators and state Attorneys General may be close to a settlement with several major mortgage servicers over foreclosure processing violations, according to Federal Housing Commissioner David Stevens.

Alarmed by significant deficiencies uncovered as part of a regulatory review of residential servicing practices, federal banking agencies are preparing formal enforcement actions against the largest players in the receivables market that they hope will set de facto standards across the industry, according to sources familiar with the situation.

A pair of rulings from federal bankruptcy judges last week is adding a new wrinkle to the role of MERSCorp Inc. in state foreclosure proceedings.

Richard Northcutt, a California real estate executive, pleaded guilty in U.S. District Court in Sacramento, Calif., to a conspiracy to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County.

Mortgage Dashboard, an Austin, Texas-based software-as-a-service company that provides on-demand solutions for the mortgage industry working with lenders, credit unions and banks, has added compliance alerts to its cloud-based loan origination system.

Bad: When a newspaper ridicules your CEO for wrongful foreclosures.Worse: When the foreclosure was initiated by another company.

A former Rhode Island state senator and North Providence real estate attorney has been sentenced to 27 months in federal prison for bank fraud.

The Federal Reserve Board announced that it does not expect to finalize three pending rulemakings DOES under Regulation Z, which implements the Truth in Lending Act, prior to the transfer of authority for such rulemakings to the Consumer Financial Protection Bureau.

The Securities and Exchange Commission late Friday charged three former senior executives of IndyMac Bancorp with securities fraud for misleading investors about the alt-A giant's deteriorating financial condition.

After receiving notice that he’s under investigation by the Securities and Exchange Commission, CoreLogic Chief Financial Officer Anthony "Buddy" Piszel resigned late Thursday.

The Mortgage Bankers Association says nonbank lenders are willing to file suspicious activity reports to curtail fraud in the industry, but the trade group wants the Financial Crime Enforcement Network to include more data fields in its reports so responders can supply identifying information.

Who will take on the catastrophic risk associated with making mortgages, a risk that has flared twice since 1989 and has caused the taxpayers hundreds of billions of dollars in losses?

A California appeals court has dealt mortgage servicers another setback by letting a borrower pursue a fraud claim because she was promised a loan modification, but got pushed into foreclosure.

They've been called "braindead," "negligent," and "otiose." But some trustees of mortgage-backed securities are proving useful to investors after all in repurchase fights.

On Jan. 28, Federal Housing Administration Commissioner David H. Stevens extended the temporary waiver of the agency's "anti-flipping rule." The extension is intended to accelerate the resale of foreclosed upon homes in neighborhoods struggling to overcome possible property abandonment and blight.

New York Mayor Michael Bloomberg and district attorneys have created two new programs developed by the Financial Crime Task Force to stop mortgage fraud transactions from taking place in the five boroughs.

With fraud becoming a major concern in the mortgage industry because of changes in guidelines and regulations over the past year, ISGN Corp. has partnered with Interthinx to add the FraudGuard and PredProtect Compliance Suite to its MORvision loan origination system Plug-In Partner Network.