The threat of mortgage fraud remains high despite the best efforts of the mortgage industry and law enforcement agencies to combat the growing menace. The problem is trying to stay ahead of fraudsters and organized crime while recognizing... Read More

A person’s Social Security number may be just one piece of the mortgage fraud puzzle, but it is often a crucial element in determining whether a scam lurks beneath an innocent looking home loan transaction. When an SS number is stolen, it is... Read More

Fraud experts at last week’s American Conference Institute’s symposium on mortgage fraud discussed in detail the worst loan fraud schemes and how to recognize them. Sanford Doi, senior fraud investigator with Freddie Mac, and James Brody, an outside counsel for... Read More

Disparity among white, black and Hispanic loan denial rates due to credit history and debt-to-income ratio narrowed in 2005 compared to 2004, according to Inside Regulatory Strategies’ analysis of the latest Home Mortgage Disclosure Act data. The HMDA data showed... Read More

Getting audited by the Department of Housing and Urban Development’s Office of Inspector General is not an enviable undertaking, but there is hope for lenders who end up in such a situation, according to compliance specialists. While the OIG audits lenders and suggests penalties, the FHA has... Read More

Federal financial regulators have proposed new consumer disclosures for nontraditional mortgage products and announced additional guidance for managing risks associated with open-end home-equity lines of credit with interest-only or negative amortization features. Both proposals were published simultaneously with... Read More

Connecticut. The Constitution State allows fair competition but not when you systematically steal...Delaware. Legislation allowing consumers to request a credit reporting agency to place a “freeze” on their credit file became...Massachusetts. Mortgage licensees could lose their license for the actions of... Read More

Federal Trade Commission:Proposed Limited Use of Pre-recorded messages in Telemarketing... Office of Thrift Supervision:CRA Rule Alignment. The OTS announced a proposal last week that would realign...Federal Reserve Board:Consumer Advisers Meeting. The Consumer Advisory Council will meet Oct. 26 at...U.S. Congress:Enacted, Approved Bills. President Bush has signed the Military Personnel Financial... Read More

The Conference of State Bank Supervisors has a new section on its Web site that provides information about... Paul Hancock, a former prosecutor in the Civil Rights Division of the U.S. Department of Justice and who subsequently served as... The mortgage industry, U.S. Department of Defense, and Hispanic housing advocates are partners... he Mortgage Bankers Association of Florida’s Board of Governors will meet... The Consumer Bankers Association’s Fair Lending Conference will be at... The Mortgage Bankers Association has appointed Corey Carlisle as senior director for... Read More