Enforcement

Five Star Bank is the latest financial institution to settle claims that it avoided lending to minorities. More redlining cases can be expected, industry experts say.

Standard & Poor's is close to an agreement to pay $1.4 billion to settle claims by the Justice Department and states attorneys general that it inflated subprime mortgage-bond ratings before the financial crisis, according to two people with knowledge of the talks.

Standard & Poor’s agreed to a one-year suspension from rating certain commercial mortgage bonds and $80 million in fines to settle charges with the Securities and Exchange Commission and the New York and Massachusetts Attorneys Generals offices.

No matter if you are a large mortgage banker or a small mortgage broker, your employees in California are covered under this law that goes into effect on July 1.

Standard & Poor's will be suspended for a year from rating bonds in one of its most lucrative businesses in a $60 million settlement with the U.S. Securities and Exchange Commission.

Altisource Portfolio Solutions promoted John Vella to the new position of chief revenue officer in a bid to grow beyond its relationship with embattled former parent Ocwen Financial.

The Ocwen spinoff Altisource Portfolio Services delivered notices to more than 800 employees and hundreds of contractors this week as part of the company's scramble to reassure investors.

Lower litigation costs helped Bank of America's mortgage unit curb its losses, while Citi's fourth quarter origination volume dropped 18% from a year ago.

As a result of certain court decisions, government agencies like the Federal Housing Administration have even more latitude in pursuing these claims against lenders.

Golden First Mortgage Corp. agreed to a $36 million settlement of claims that the company — which allegedly saw 60% of its government underwritten loans go into default since 2002 — defrauded a federal mortgage program.

Bank servicers have a compliance dilemma: they need to quickly shed mortgage-servicing rights ahead of Basel III at a time when regulators are keeping a close watch on the manner in which transfers are handled.

The Justice Department is aiming to settle a probe into Morgan Stanley's subprime mortgage business by early 2015.

Fitch Ratings downgraded Ocwen Financial Corporation's bond rating from B to B- with a negative outlook after the sudden departure of the company's chairman following a settlement with the New York Department of Financial Services.

Aaron Seltzer, an attorney from the eastern shore of Maryland, pled guilty earlier this week to wire fraud connected to a real estate investment scheme.

The government-sponsored enterprises' changes to their representations and warranties regulations could increase lending — and some risks. Here's the downside to the move and how lenders can mitigate related concerns.

Credit Suisse Group AG (CSGN) was ordered to face a lawsuit by New York's attorney general accusing the bank of fraud in sales of mortgage-backed securities before the recession.

Farmland Partners has expanded its secured note line of credit with Farmer Mac to $150 million, from $75 million.

Georgia's Department of Banking and Finance has finalized a cease-and-desist order against Community Legal Center.

The government-sponsored enterprises' changes to their representations and warranties regulations could increase lending, or cause taxpayer losses related to GSE purchases of bad loans. Here's why advocates like the move.

Mortgage companies must properly vet their third-party vendors to ensure that there is no litigation, fraud allegations, or other risky behavior that might create risk for them.