Watt Confirmed As Next Director Of FHFA
The U.S. Senate on Tuesday confirmed Rep. Mel Watt, D-N.C., to serve as director of the Federal Housing Finance Agency (FHFA), regulator of...
City Of Los Angeles Slaps Banks With Mortgage Discrimination Suits
The city of Los Angeles has reportedly filed separate lawsuits against Citigroup, Bank of America and Wells Fargo, accusing the banks of engaging...
Monitor: Settlement Banks Failed Some Servicing Tests In First Half
Three of the five banks subject to the 2012 national mortgage settlement continue to have challenges adhering to the servicing rules, having failed...
Bank Of America Settles With Freddie Mac For $404 Million
Bank of America has agreed to pay $404 million to Freddie Mac to settle claims that the bank misrepresented the quality of single-family...
Quality Mortgage Services: Loan Quality Continues To Improve
Pristine. That's one of many positive words that have been used to describe the quality of the mortgage loans originated during the second...
FHFA: GSE Loan Limits Will Not Change In 2014
This past summer, Edward DeMarco, director of the Federal Housing Finance Agency (FHFA), announced that the FHFA was considering reducing the maximum size...
Following Senate Vote On Filibuster Rules, Watt Poised For Confirmation
Mel Watt, President Barack Obama's pick to replace Edward DeMarco as director of the Federal Housing Finance Agency (FHFA), is now poised to...
New ‘Know Before You Owe’ Mortgage Forms Finalized
The Consumer Financial Protection Bureau (CFPB) has issued the final versions of its new 'Know Before You Owe' mortgage forms that lenders will...
JPMorgan, Department Of Justice Finalize $13 Billion Settlement
JPMorgan Chase and the U.S. Department of Justice (DOJ) on Tuesday finalized a $13 billion settlement over alleged 'faulty' mortgage-backed securities (MBS) the...
JPMorgan Agrees To Settle Investor Claims For $4.5 Billion
JPMorgan has reportedly reached a $4.5 billion settlement with a group of investors over claims that the bank sold them faulty residential mortgage-backed...
Geithner Joins Private Equity Firm Warburg Pincus As President
Former U.S. Treasury secretary Timothy Geithner has agreed to join New York-based private equity firm Warburg Pincus as president, the company announced on...
CFPB Takes Action Against Mortgage Insurer
The Consumer Financial Protection Bureau (CFPB) is fining Republic Mortgage Insurance Corporation (RMIC) for allegedly paying illegal kickbacks to mortgage lenders in exchange...
Safeguard Files Motion To Dismiss
Property management company Safeguard Properties has filed a motion in court to dismiss a lawsuit brought by Illinois Attorney General Lisa Madigan accusing...
Federal Prosecutors Seek Maximum Penalty For BofA In Mortgage Fraud Case
Federal prosecutors have reportedly requested that Bank of America pay the maximum penalty of $863 million to compensate for when its Countrywide unit...
Hensarling: GSEs Haven’t Repaid ‘One Thin Dime’ To Taxpayers
Rep. Jeb Hensarling, R-Texas, chair of the House Financial Services Committee and lead architect of the Protecting American Taxpayers and Homeowners (PATH) Act,...
Castle & Cooke To Pay $13 Million To Resolve CFPB Complaint
Castle & Cooke Mortgage will pay a $13 million fine, including $9 million to compensate mortgage borrowers, to resolve a complaint brought by...
Ally’s Mortgage Business Now In ‘Rearview Mirror,’ Says CEO
Ally Financial Inc., one of the largest U.S. lenders, has closed the book on its mortgage business, Bloomberg News reports. Jeff Brown, senior...
First-Time Home Buyers On The Decline, NAR Survey Reveals
Rising interest rates, increasing home prices, a weak jobs market and stricter lending standards continue to push many first-time home buyers out of...
Watt’s Confirmation Blocked In Senate; Reid Vows To Try Again
Senate Republicans on Thursday blocked the confirmation of Mel Watt as director of the Federal Housing Finance Agency (FHFA), thus delivering a blow...
JPMorgan Settlement Hinges On Criminal Charges
Settlement talks between JPMorgan Chase and the U.S. Department of Justice regarding the bank's sale of 'faulty' mortgage-backed securities (MBS) and loans to...