Enforcement

A former Jefferies & Co. managing director convicted of fraud for lying to customers about the price of mortgage-backed securities sued the AllianceBernstein Holding LP executive who reported him.

Despite looser credit consumer demand has been on the decline, according to Fannie Mae's fourth-quarter Mortgage Lender Sentiment Survey.

Ocwen Financial came under fire from Joseph A. Smith, the monitor of the national mortgage settlement, after concerns of conflicts of interest were raised by an unnamed whistleblower.

Mortgage fraud remains a national problem as loan applications have seen misrepresentations increase on an annual basis for three consecutive years, according to LexisNexis Risk Solutions.

Zillow Inc. was accused of "sexual torture" by one of its former sales consultants in a harassment lawsuit that may add to scrutiny of how women are treated in the technology industry.

Thomas Provenzano, a Connecticut man who in January pleaded guilty to real estate fraud, was sentenced to 18 months imprisonment to be followed by five years of supervised release.

Supreme Court justices appeared skeptical of both sides during oral arguments on Monday in a case that could shape whether regulators have to ask for public feedback before significantly changing a rule.

A final judgment against Bank of America in a mortgage-bond lawsuit by the Securities and Exchange Commission was signed by a federal judge, helping clear the way for the lender to complete a $16.7 billion global settlement of claims it misled investors about risk.

The U.S. Securities and Exchange Commission resolved an impasse over punishing Bank of America Corp. in a mortgage-bond case, clearing the way for the lender to complete a $16.7 billion global settlement, people familiar with the matter said.

Fannie Mae and Freddie Mac updated their representation and warranties frameworks in a move designed to encourage mortgage lenders to ease credit restrictions by limiting repurchase requirements.

The New York unit of Japanese securities firm Nomura Holdings may be three traders short after reportedly placing them on leave, but the firm is said to have muscled away a large auction held yesterday.

Lawyers for the U.S. and Wells Fargo told a judge they doubt they can reach a settlement in a government lawsuit accusing the bank of home-mortgage fraud, a person familiar with the matter said.

Plaintiffs advocating for spousal rights in existing Home Equity Conversion Mortgages are renewing their motion for class certification, citing circumstances surrounding two instances of foreclosures under interim government policy.

The U.S. Supreme Court agreed to hear two Bank of America Corp. appeals that seek to give lenders more leverage over homeowners who file for bankruptcy protection.

The Consumer Financial Protection Bureau slapped Franklin Loan Corp. with a $730,000 fine on Thursday for allegedly incentivizing loan officers to guide customers into mortgages with higher interest rates.

Despite policy changes that apply to new reverse mortgages, the rights for existing spouses of deceased borrowers remain unclear and subject to change until HUD and litigants agree on a final policy in line with court directives.

Lenders cannot afford to relax when it comes to performing regression analysis and fair lending training, but may find if they have strong compliance that they have more pricing options.

More investors in mortgage servicers lost faith in the firms as quarterly results highlighted their struggles to expand into businesses, control costs and address issues raised by regulators.

Ocwen Financial is making progress to settle allegations against it, but that does not mean it will be cheap, one analyst says. The current servicing freeze in the industry has grown so serious that some say it may be delaying the government’s goals to expand the availability of mortgage credit.

Justices seem to struggle with what rescission actually means in practice and in the Truth-in-Lending Act.