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Former Rabobank trader Anthony Allen, found guilty for rigging a key financial benchmark, struck jurors in Manhattan as evasive, deceptive and "shaky," as one of them put it after delivering the verdict.
November 6 -
Wells Fargo has agreed to pay $81.6 million to settle a federal investigation into its alleged failure to properly notify homeowners of increases in their mortgage payments.
November 5 -
PHH Corp. swung to a loss in the third quarter, as the mortgage servicer and originator set aside reserves to cover the potential cost of regulatory investigations.
November 5 -
A New Jersey woman and her parents were found guilty of a sophisticated mortgage equity fraud scheme by a Pennsylvania federal jury.
November 2 -
A Georgia real estate investor pleaded guilty this week to property bid rigging and mail fraud, according to the Federal Bureau of Investigation's Atlanta division.
October 30 -
The Consumer Financial Protection Database might be unfair to the financial services industry, but the information it holds for lenders and servicers can help them manage customer service and avoid costly litigation.
October 22
Baker Donalson -
Mortgage servicer Ocwen Financial failed four servicing tests in the second half of 2014. Joseph A. Smith Jr., the monitor of the $25 billion national mortgage settlement, said the Atlanta servicer was beginning to show progress in complying with terms of the 2012 agreement.
October 22
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The head of the Consumer Financial Protection Bureau warned software vendors that they face new scrutiny from regulators for causing mortgage lenders to miss the TRID-compliance deadline. He was vague about how far the CFPB might go, but many in the industry are prone to fear the worst.
October 21
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In addition to staying on top of the day-to-day requirements of TRID, lenders must also avoid big-picture mistakes that could disrupt their compliance
October 19
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The Internal Revenue Service has stamped an approval on Bank of America Corp.'s $8.5 billion settlement tied to bad mortgages sold by its Countrywide unit in the run-up to the financial crisis, possibly setting a standard for agreements with other lenders.
October 15
