Assignee liability appears to be toughest under the Senate’s anti-predatory lending bill compared to similar provisions in the House version and in the Federal Reserve Board’s proposed rulemaking under the Home Ownership and Equity Protection Act, according to...
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With damage from the subprime market crisis spreading to middle-income communities, Comptroller of the Currency John Dugan has called for changes to the Community Reinvestment Act to broaden banks’ authority to make community development investments in...
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Draft legislation requiring mortgage servicers to engage in loss mitigation before foreclosing on a mortgage has been floated on Capitol Hill as part of a renewed focus on mortgage settlement services reform. Authored by Rep. Maxine Waters, D-CA, the...
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The battle over mortgage cramdown has spilled over a second front, this time involving comprehensive housing legislation introduced recently by Senate Democrats. Announced by Senate Majority Leader Harry Reid, D-NV, with several other senators, S. 2636, the...
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Mortgage servicers should carefully examine loan files when dealing with at-risk subprime borrowers in Florida, including those facing foreclosure, or risk being sued for alleged violations of consumer protection laws. Certain community groups in the Sunshine State are...
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The subprime mortgage crisis is spawning litigation in federal courts at a much faster rate than was seen during the savings-and-loan meltdown of the early 1990s, according to a new study. The number of subprime-related lawsuits filed last year already...
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Illinois. Gov. Rod Blagojevich and the Neighborhood Housing Services... Florida. Gov. Charlie Crist has created a task force of bankers... Utah. The state Division of Real Estate, which issues real estate... Maryland. On Feb. 19, Gov. Martin O’Malley called for a work-session with...
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Federal Financial Institutions Examination Council: Revised Call Reports. Federally chartered banks will soon be adopting revised call report standards for residential mortgage loans on March 31, and reporting certain new items related to...
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More borrowers at risk of foreclosure will be getting... iMortgage Services in Pittsburgh, PA, is offering... The theme for this year’s National Consumer Protection... The Office of Thrift Supervision has appointed... Doug Foster is the new commissioner of the...
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