Enforcement

A Florida-based loan servicing company has agreed to pay $84,000 to cover attorneys fees, penalties and costs associated with improper foreclosures it initiated in Maine, the state said.

A Sacramento CEO has pleaded guilty to embezzling funds from his employees' pensions, according to the U.S. Attorney for the Eastern District of California.

Former Lend America executive Michael Ashley was sentenced to three years in prison for his actions that led to the implosion of the once-high-flying Melville, N.Y.-based mortgage lender.

A builder based near the Lake of the Ozarks swindled six families that sought new homes in Kirkwood, Mo., out of $356,000, the builder's federal plea agreement says.

A Nomura Holdings Inc. unit will repay customers about $25 million to settle U.S. regulators' allegations that it failed to supervise traders who made false statements in negotiating sales of mortgage securities.

An Indiana man was sentenced to seven years in federal prison after his conviction for participating in a foreclosure rescue fraud scheme.

A Bay Area real estate agent has been indicted on charges of fraud and money laundering after allegedly promising home loans to clients then taking their money.

The Government Accountability Office called on Ginnie Mae to undertake four reforms to its operations, citing concerns regarding the ongoing shift in size and capitalization of mortgage-backed securities issuers.

With nearly $90 million added in the past two months, Goldman Sachs marched closer to its $1.8 billion consumer-relief mortgage settlement with the U.S. Department of Justice.

The Department of Financial Services has created a statewide financial protection division focused on corporate compliance and consumer issues, in line with steps taken by New Jersey and Pennsylvania.

New licensing rules for mortgage professionals servicing loans secured by New Jersey properties will go into effect this summer, adding to a trend toward tighter state regulation of standalone servicers.

The debt collection proposal is expected to address how debt collectors can use text messages and emails to track down debtors.

Two Sacramento, Calif., defendants were found guilty of wire fraud stemming from a fraudulent real estate company that targeted members of Sacramento's Latino community, according to the U.S. Attorney's Office.

General Electric placed its WMC Mortgage unit into Chapter 11 bankruptcy protection as it has nearly $1.7 billion in legal settlements agreed to or pending.

General Electric Co. finalized an agreement to pay $1.5 billion to settle a U.S. investigation into the manufacturer's defunct subprime mortgage business.

A Staten Island, N.Y., man involved in a $2.5 million real estate investment scheme that targeted investors, many of whom were elderly and some of whom had dementia, was sentenced to three years in prison.

The legislation comes a day before CFPB Director Kathy Kraninger is set to testify to Congress.

Ginnie Mae has restricted loanDepot's ability to securitize Veterans Affairs mortgages because of apparent churning of recent originations.

The same TILA-RESPA integrated disclosure errors continue to plague mortgage lenders, though those documents have been required for over three years, a report from MetaSource said.

New York State is providing additional funding to municipalities that will boost efforts regarding mortgage servicer compliance with the state and local vacant property laws.