States are honing up on the Real Estate Settlement Procedures Act to augment their anti-mortgage fraud enforcement, according to the Department of Housing and Urban Development’s top RESPA enforcer. In remarks at the Real Estate Service Providers...
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Settlement service providers warned that the closing script and other provisions in proposed rules to modify Real Estate Settlement Procedures Act regulations raise many practical and legal issues that require more time to analyze. Discussing the proposed...
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The Department of Housing and Urban Development will keep confidential all information generated by the department’s proposed Web site for accepting complaints alleging violations of the Real Estate Settlement Procedures Act, according to the agency’s chief...
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Actions by a Massachusetts state court and State Attorney General Martha Coakley are raising fears of a harsh regulatory climate among states, following a court order last week expanding a preliminary injunction against an ailing California subprime mortgage lender...
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The Department of Housing and Urban Development is tweaking its refinancing guidelines in order to get more delinquent borrowers into the FHASecure program, including those with subprime fixed-rate mortgages and shakier credit.While many at-risk but current...
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The resignation of President Bush’s top housing regulator last week came as no surprise to the mortgage industry, which vowed not to let this latest setback stall efforts to clarify and streamline the mortgage settlement process. The process of crafting rules that...
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Attorneys from high volume foreclosure regions are encouraging lenders to work with consumer groups, hire more staff and utilize updated technology to improve their loss mitigation strategies.With foreclosure numbers spiking nationwide and...
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The mortgage industry lauded a controversial Bush administration proposal to create a new federal oversight agency to ensure that state mortgage regulators are doing their job. The proposal is part of a broader, sweeping plan offered by Treasury...
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Federal regulators are proposing changes to existing federal flood insurance guidance in a number of new areas, including second-lien mortgages and imposition of civil money penalties. Published in the March 21 Federal Register, the proposed...
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Washington. Gov. Chris Gregoire, D, signed into law three bills designed to protect consumers from foreclosure and help them... Pennsylvania. The City Council of Philadelphia approved a resolution March 27 to freeze for 30 days all sheriff foreclosure sales...
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Office of Federal Housing Enterprise Oversight: No Change to Conforming Loan Limit... Federal Deposit Insurance Corp.: Warning on Loan Scams. The growing number of distressed borrowers also... Ginnie Mae: ‘Economic Stimulus’ Loans. Ginnie Mae has issued...
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Industry participants have committed various amounts to foreclosure prevention efforts. Ocwen Loan Servicing has donated $200,000 to the Homeownership Preservation Foundation to provide direct service to homeowners facing...
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