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Regulatory Compliance

CFPB, DOJ Fine Trident Mortgage For Alleged Redlining

The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) recently ordered Trident Mortgage Co., a non-depository mortgage company operating in Delaware,...

Garris Horn Adds David G. Ross as Litigation Partner

David G. Ross has joined Garris Horn LLP, a boutique, virtual law firm focused on federal financial regulation, including TILA/RESPA/TRID, as litigation partner. Ross has...

Intercontinental Exchange to Acquire Black Knight in Cash/Stock Deal Valued at $13.1 Billion

Less than two years after it acquired mortgage origination software firm Ellie Mae for $11 billion, Intercontinental Exchange (ICE), a global provider of data,...

FHFA Amends Enterprise Regulatory Capital Framework for GSEs

The Federal Housing Finance Agency (FHFA) has published a final rule that amends the Enterprise Regulatory Capital Framework (ERCF) by refining the prescribed leverage...

Evolve’s Brooks Systems Acquisition Supports Mortgage Regulation Compliance

Evolve Mortgage Services, a provider of outsourced mortgage solutions and eMortgage technology solutions, has acquired Brooks Systems LLC to expand its technical automation regulatory...

Proposal Focuses on Capital Planning Rule for Fannie Mae and Freddie Mac

The Federal Housing Finance Agency (FHFA) has issued a proposed rule that would require Fannie Mae and Freddie Mac to develop, maintain and submit...

SitusAMC Launches Securent Insurance for MBS, MSR Markets

SitusAMC has debuted Securent, a provider of comprehensive risk management and insurance programs for mortgage and mortgage-backed securities (MBS) stakeholders. Securent’s loan defect insurance protects...

Ncontracts Acquires the OnSemble Intranet Portal

Ncontracts, a provider of integrated risk management solutions for the financial services industry, has acquired the OnSemble intranet portal from Passageways, Inc. Terms of the...

MISMO Seeks Participants to Help Standardize Pre-Closing Title Document Datasets

MISMO, the real estate finance industry's standards organization, is seeking participants for a new initiative focused on standardizing pre-closing title document datasets in order...

CFPB to Closely Scrutinize How Mortgage Servicers Handle Borrowers Exiting Forbearance

As the COVID-19 related foreclosure moratoriums wind to a close and mortgage servicers brace for a potential wave of defaults, the Consumer Financial Protection...

Wipro Opus Risk Solutions Hires Kebra Rhedrick as Chief Compliance Counsel

Kebra Rhedrick has joined financial services consulting firm Wipro Opus Risk Solutions as chief compliance counsel. Rhedrick previously served as in-house counsel for JPMorgan Chase...

CFPB Fines Trustmark National Bank $5 Million For Alleged Redlining in Memphis

Trustmark National Bank, a Jackson, Mississippi-based company founded in 1889, will pay a $5 million penalty to the Consumer Financial Protection Bureau (CFPB) for...

Consumer Financial Protection Bureau Makes Key Senior Leadership Changes

The Consumer Financial Protection Bureau (CFPB) has announced leadership moves for the deputy director, associate director for consumer education and external affairs, chief of...

LBA Ware Hires Compliance Software Expert Lyndal McLaughlin

Lyndal McLaughlin has joined mortgage software firm LBA Ware as a software implementation consultant. McLaughlin has over 30 years’ experience in the mortgage industry. She...

ACES: Rate of Critical Defects in Closed Mortgages Fell Again in Q1

The rate of critical defects in mortgage loans post-closing fell to 2.01% in the the first quarter, down from 2.09% in the fourth quarter...

Knowledge Coop Hires Brian Paine as Director of Technology

Brian Paine has joined Knowledge Coop, which offers compliance training to the mortgage industry, as director of technology. Paine comes to Knowledge Coop after spending...

FHFA Chooses Phyllis K. Fong as Acting Inspector General

The Federal Housing Finance Agency (FHFA) has named Phyllis K. Fong as its acting inspector general. She will continue to serve as the inspector...

MISMO Explores Market Need and Standards for ESG Initiatives

MISMO, the real estate finance industry's standards organization, is creating a new Community of Practice (CoP) focused on exploring potential standards for Environmental, Social...

Goldman Sachs Completes Consumer-Relief Obligation Stemming from Settlement

Goldman Sachs has successfully completed its $1.8 billion consumer-relief obligation under the 2016 settlement agreements with the U.S. Department of Justice and three states,...

Covius Holdings Hires Tom Coffey as VP of Business Development for Clayton Unit

Tom Coffey has re-joined Covius Holdings Inc., a provider of technology-enabled solutions to the financial services industry, to serve as vice president of business...