How federal regulators fabricated a media narrative with verbal sleights of hand.

PNC also disclosed more details about three subpoenas it received from the U.S. attorney's office in Manhattan related to National City Bank, the Cleveland-based subprime home lender PNC purchased in 2008.

Rules enacted last year appear to be steadily forcing banks to exit the mortgage servicing business, transferring such rights to nonbanks. The situation is stoking fears on Capitol Hill and elsewhere that regulators went too far.

A technical reading of the rule supports excluding charges by a broker's title affiliate from the 3% fee cap. But without a specific interpretation from the CFPB, it would be unwise to risk a loan's QM status.

Big data will hit its stride when tailored to vertical markets and their specific needs. Mortgage Servicing is an excellent example.

Capital One Financial Corp., the bank that gets more than half of its revenue from credit cards, received subpoenas and information requests from U.S. authorities investigating mortgage fraud.

Business contingency plans kept originators and vendors humming along at almost normal during the January and February blizzards.

A federal judge ruled Wednesday that the hedge fund's lawsuit against the government will not be thrown out of court, allowing it to proceed with discovery.

Mortgages secured by multi-unit properties pose a higher fraud risk than all other property types, the antifraud technology vendor Interthinx says in its latest quarterly report.

Freddie Mac will return $10.4 billion in profits to the Treasury Department next month, bringing total payments to about $10 billion above what it got in aid under conservatorship.

Bank of America Corp. disclosed new probes into its mortgage and foreign-exchange businesses and boosted an estimate of potential legal losses by 20% to $6 billion.

The Securities and Exchange Commission wants public input on the idea of requiring loan-level data disclosure to be made through an investor website rather than on the public EDGAR system.

Standard & Poor’s said President Obama met with Treasury Secretary Timothy Geithner just before Geithner warned the company to expect a response to its downgrade of U.S. debt, an event that justifies its request to see White House communications to help defend fraud claims.

Prospect Mortgage did everything right to defend itself against overtime and minimum wage claims from salespeople, though some industry attorneys caution the rulings in its favor may have limited applicability.

Lenders should be aware auditors are focusing on 1099 payments due to the concern that the payments could be a vehicle for compensation no longer permissible under the Dodd-Frank Act.

Mortgage servicing has long been a scale business, but rising compliance costs are now threatening the survival of smaller operations that lack efficient systems or staff expertise, industry experts say.

The loans have better-than-average credit and home equity metrics, according to Standard & Poor's. The deal lacks fraud-related representations and warranties, but all loans are performing, DBRS finds.

One of the first court decisions related to new Dodd-Frank servicing regulations finds allegedly unfair loss mitigation and dual track foreclosure proceedings can be privately enforced, but to a limited extent.

The Consumer Financial Protection Bureau's crackdown on mortgage servicers' operations will increase the pressure on lenders to improve their processes, paperwork and communications with borrowers. National Mortgage News journalists discuss how both banks and nonbank servicers can get ahead of the new regulatory scrutiny.

Lenders must give these to consumers who apply for home equity lines of credit and adjustable rate mortgages.