Compliance

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.

With millions of people having their identity stolen every year, Regions Financial Corp. has developed a new product to help its customers guard against identity theft.Regions IdentityProtect is part of the Regions Financial Corp.’s suite of protection services, providing three services including protection, detection and resolution of identity theft.

The former president of the Florida A&M University Federal Credit Union, and a University policy institute director were sentenced to more than two years in federal prison last week and ordered to repay $134,000 in Housing and Urban Development grant money they were found guilty of stealing.

The financial system of the United States changed when President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act last July.

The California Department of Corporations has halted a multimillion-dollar investment fraud by CanAm Capital Corp. and individuals associated with the Los Angeles-based venture capital and private equity firm.

What will the legacy of the robo-signing scandal be? Will it be more careful servicers who don’t cut corners under pressure from huge pipelines of foreclosures? Will it be large settlement payouts by the largest servicers involved in the mess?

As of Jan. 1, the Department of Real Estate has issued over 22,000 mortgage loan originator license endorsements. MLO license endorsements applications continue to flood in and the DRE expects to eventually issue over 30,000 endorsements. (cadrepr12011)

The Coalition to Stop Wall Street Home Resale Fees is demanding Freehold Capital Partners to release a list of properties that are paying predatory fees that they are unaware of.Wall Street Home Resale Fees are incorporated into home covenants that filter money from homeowners to private third parties that have no ongoing relationship with the property.

The Coalition to Stop Wall Street Home Resale Fees is demanding Freehold Capital Partners to release a list of properties that are paying predatory fees that they are unaware of.Wall Street Home Resale Fees are incorporated into home covenants that filter money from homeowners to private third parties that have no ongoing relationship with the property. Freehold Capital Partners said there is $600 billion in real estate nationwide that is subject to the fees.

New York Life Insurance Co., TIAA-CREF, the French bank Dexia and other institutional investors joined the list of bondholders seeking compensation from Bank of America Corp. over MBS losses they suffered from buying nonprime bonds from Countrywide Financial Corp.

An ever-changing regulatory environment is challenging everyone from servicers to foreclosure attorneys and their clients creating demand for simple services that may go a long way in benefiting all parties involved in the mortgage chain.