Enforcement

Secretary of the Commonwealth William F. Galvin has charged a Milton, Mass., man with using a fraudulent house-flipping scheme to convince friends and investors to lend him money that he then used on restaurants, hotels and groceries.

Movement Mortgage will pay $1.1 million in penalties and customer refunds to settle charges by California regulators it serviced loans without a state license and for collecting unearned interest.

Royal Bank of Scotland Chief Executive Officer Ross McEwan said the likelihood is waning that the lender will settle a U.S. mortgage-bond probe before the end of the year as he'd hoped, though it's well-capitalized to handle a settlement.

Stephanie W. Cowart, former executive director of the Niagara Falls Housing Authority, admitted to working with her son and daughter-in-law to steal $17,580 from the authority and the state.

The Office of the Comptroller of the Currency is eliminating a plan designed to ensure its examiners did not get too close to the big banks they supervise.

In a letter to President Trump, 44 Democratic senators said the White House's appointment of Mick Mulvaney as interim director of the Consumer Financial Protection Bureau "jeopardizes the agency’s independence and effectiveness."

Mortgage servicers should be especially concerned by the rise in Telephone Consumer Protection Act lawsuits, which often hinge on whether consent to call borrowers exists or has been revoked.

A Kiryas Joel, N.Y., man was sentenced to 18 months in prison and ordered to forfeit $1.2 million to federal authorities for his role in a mortgage-fraud operation in which prosecutors had charged 15 people in all.

The resignation of CFPB Director Richard Cordray gives President Trump the chance to name a director who could roll back agency rules and supervisory policies.

A real estate agent allegedly duped two home buyers into thinking they had purchased a Boynton Beach, Fla., residence but instead pocketed their down payment and monthly payments, according to an arrest report.

The U.S. Justice Department has sued the largest foreclosure trustee in the Pacific Northwest, claiming it illegally foreclosed on at least 28 military members or veterans in the past six years.

Marco Laureti owned several real estate and mortgage businesses, a real estate license, a mortgage broker's license and a house on San Marino.

Three real estate investors illegally pushed down prices in Palm Beach County, Fla., foreclosure auctions, federal prosecutors say.

Credit Suisse's plan for consumer relief in a multibillion-dollar Department of Justice settlement related to residential mortgage-backed securities could reduce the costs involved, according to the settlement monitor's first report.

Most secondary market outlets, along with the non-qualified mortgage lenders, remain reluctant to lend to legal cannabis workers because of the source and nature of their compensation, but opportunities are beginning to emerge.

Legalizing the recreational use of marijuana has created jobs in Colorado, bringing people into the state and putting stress on its residential purchase and rental markets.

The CFPB's practice of "regulation by enforcement" forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, said David Motley, the new chairman of the Mortgage Bankers Association.

From debating the future compliance landscape to developing a digital mortgage strategy, here's a preview of the top issues, ideas and themes on tap when the industry convenes in Denver for the Mortgage Bankers Association's Annual Convention & Expo.

Ginnie Mae and the Department of Veterans Affairs have described in more detail the VA loan refinancing practices they will crack down on to eliminate a long-running churning concern.

The Consumer Financial Protection Bureau said Friday that Anthony Alexis, its enforcement chief, plans to leave the agency after more than five and a half years.