Enforcement

Bank of America Corp.’s Countrywide Financial unit was exonerated of allegations that it sold defective residential mortgage loans to Fannie Mae and Freddie Mac with an appeals court throwing out a judgment against the bank of more than $1.2 billion.

Two recent court rulings affirmed that lenders can enforce electronically signed and transferred notes, laying important groundwork for wider adoption of electronic mortgage technology that could improve the customer experience for borrowers and save lenders and servicers a bundle.

The Federal Deposit Insurance Corp. on Thursday won the right to pursue a lawsuit against several large financial institutions accused of selling tainted mortgage securities to a company that has since failed.

New York's financial regulator has issued subpoenas to two companies with ties to Apollo Global Management as part of an inquiry into housing transactions for low-income buyers.

Credit access and homeownership for low- to moderate-income families are under siege by the DOJ's overuse of the False Claims Act, as lenders worried about punitive damages discontinue Federal Housing Administration loan programs.

The Consumer Financial Protection Bureau will propose changes in late July to its mortgage disclosure rule to provide "greater certainty and clarity" to the mortgage industry.

Ocwen Financial Corp. has fulfilled its consumer relief obligation under the National Mortgage Settlement ahead of schedule. But that doesn’t mean it’s in the clear yet.

Consumer Financial Protection Bureau Director Richard Cordray sent a four-page response to Sen. Bob Corker, R-Tenn., about new mortgage disclosures but fell short of providing any new official guidance to address industry concerns.

Large lenders are pushing the Federal Housing Administration to revamp its loan defect taxonomy to provide more certainty about potential errors and mistakes that could lead to enforcement actions.

The monitor of the Bank of America Mortgage Settlement distributed roughly $89 million Tuesday to legal assistance groups in nine states from a fund for federal tax assistance.