Enforcement

A recent Supreme Court decision means that one exemption to the Fair Labor Standards Act does not apply to mortgage salespeople, but their employers might still be able to take advantage of other exemptions.

A New Jersey man admitted in federal court Monday that he helped perpetrate a $13 million mortgage scam that targeted overbuilt condos in Wildwood and Wildwood Crest.

Authorities unsealed a 40-count indictment against six individuals who allegedly targeted distressed homeowners with the false promise of loan modification services following the 2008 financial crisis.

JPMorgan Chase has agreed to a $50.4 million settlement with the Justice Department for robo-signing documents sent to homeowners in bankruptcy and for related abuses.

The concept that lenders need to have systems in place to affirmatively detect and redress problems before consumers are affected is very real and lenders should ensure their systems are up to the task.

Morgan Stanley said New York Attorney General Eric Schneiderman intends to sue the company, alleging it misrepresented or omitted information when underwriting 30 subprime securitizations.

From new compliance scorecards to rethinking how to deal with consumer complaints, there's plenty to debate about the future of servicing. Here's a look at the most insightful and noteworthy discussions from this year's Mortgage Bankers Association servicing conference.

An audit of Ginnie Mae financials identified four "material weaknesses" and one "significant deficiency," primarily related to the accounting of $6.6 billion in defaulted loans made by the failed lender Taylor, Bean & Whitaker.

Walter Investment Management Corp. revealed in both its fourth-quarter earnings release and a separate annual report filing with the SEC a potential settlement regarding a FTC and CFPB investigation into its Green Tree subsidiary’s servicing practices.

It can be difficult to have enough staff to handle an exchange of mortgage servicing rights, though companies are exploring different solutions

Morgan Stanley agreed to pay $2.6 billion to settle probes into its creation and sale of residential mortgage-backed securities, as the U.S. Department of Justice holds another large Wall Street firm to account for the 2008 financial crisis.

BB&T has received subpoenas from the Justice Department tied to a probe of the Winston-Salem, N.C., company's FHA lending.

MetLife Inc. agreed to pay $123.5 million to resolve a U.S. probe into shoddy loans at a discontinued mortgage unit.

Panelists at the MBA's mortgage servicing conference said that the best way for servicers to keep federal regulators off their backs is to be responsive consumer complaints. And if a state attorney general or regulator come knocking, it’s best to be responsive and cooperative.

The heightened regulatory environment for servicers has also prompted a wave of process improvements.

Three more people from the Charlotte region have been sentenced as part of a sprawling mortgage and investment fraud investigation.

Here's a preview of some of the most interesting and important presentations scheduled at this year's MBA Servicing Conference, as selected by the editors of National Mortgage News.

Foreclosures and delinquencies may seem like problems from the past, but servicers are still struggling with a massive backlog of distressed loans and a return to normalcy is at least two years away, if not longer.

U.S. Attorney General Eric Holder, who forced Wall Street's biggest banks to pay billions in fines for their roles in the subprime mortgage crisis, is pressing for action against executives at those firms, even as he prepares to leave his post.

WASHINGTON — The Consumer Financial Protection Bureau took action Thursday against three mortgage companies that, authorities say, falsely implied affiliation with the U.S. government.