The Department of Housing and Urban Development will not extend the 60-day comment period for newly proposed rules to streamline mortgage settlement regulations under the Real Estate Settlement Procedures Act. “HUD believes the comment period is...
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The Department of Housing and Urban Development is reportedly planning to revive a rule banning seller-funded downpayment assistance, following two recent court decisions that struck down its previous proposal on procedural grounds...
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Confusing, complicated, controversial – these are some of the words used to describe the Department of Housing and Urban Development’s second attempt in six years to simplify and clarify rules governing the mortgage settlement process. “It’s déjà vu all...
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The mortgage industry expressed cautious optimism about draft legislation announced last week by House Financial Services Committee Chairman Barney Frank, which would provide special FHA guarantees to help distressed borrowers refinance into affordable...
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The Federal Housing Administration is pushing lenders to get more distressed borrowers into the FHASecure program despite grave concerns about the credit quality of some of the borrowers. FHA-approved lenders are being told to...
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Irate homeowners have sued a Los Angeles homebuilder and its real estate affiliates for allegedly using fraudulent appraisal reports on newly built homes as the California real estate market began to collapse in 2005-2006. Filed last month in Los Angeles County...
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New and better technologies are being introduced to help boost the mortgage industry’s anti-fraud and loss mitigation efforts. Interthinx, a California-based provider of mortgage fraud detection products, has announced a proprietary program that allows lenders...
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Massachusetts. The state Division of Banks has modified and reissued subprime... Pennsylvania. The state Senate unanimously approved a package of... Oregon. Gov. Ted Kulongoski March 11 signed into law SB 1064, which... Arizona. Sponsors of a bill which would require licensing of...
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Office of the Comptroller of the Currency: Flood Hazard Determination. National banks should... Office of Thrift Supervision: Ratings of Structured Financial Transactions. If other jurisdictions have predatory...
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eLynx, a provider of electronic document communications... The California Reinvestment Coalition has released a... Citigroup has named Brian Leach as its chief risk officer... The Conference of State Bank Supervisors is holding a seminar...
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