This topic consolidates everything you need to know to stay informed including prominent industry advocacy movements, current regulatory enforcement actions, and judicial rulings impacting mortgage banking.
DS News--Robert D. Forster, II, Managing Partner, BDF Law Group
The Texas Supreme Court recently granted a lender's petition, finding that "equitable-subrogation rights become fixed at the time the proceeds from a later loan are used to discharge an earlier lien" and that a “lender’s negligence in preserving its rights under its own lien does not deprive the lender of its rights in equity to assert an earlier lien that was discharged using proceeds from the later loan”.
OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.
Search our Compliance Calendar for current
regulatory changes & updates from Fannie,
Freddie, FHA, VA, and USDA.
Mortgage Fraud Blog
David Litman of Illinois has been sentenced to two-year in federal prison for conspiracy to commit bank fraud and bank fraud in connection with a real estate short-sale scheme.
Mortgage Fraud Blog
Stephen Sharkey of New Jersey was sentenced to four years and one month in prison for stealing more than $385,000 of down payments for homes from two different families.
The CFPB took action today against an online debt-settlement company for taking advantage of consumers, failing to disclose its relationship to certain creditors, and steering consumers into high-cost loans offered by affiliated lenders.
OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.
OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.
OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.
The CFPB issued a consent order against a debt collector and its owner for harassing thousands of consumers, falsely threatening them with legal action.
The FDIC published its annual overview of the consumer compliance supervision activities and
issues identified through supervision of state non-member banks and thrifts in 2020, highlighting fair lending concerns referred to the Department of Justice.
DSNews--Nazish Shah, Senior Litigation Associate at Diaz Anselmo & Associates
The Florida Fifth DCA reversed a summary judgment of foreclosure finding a mortgage servicer failed to provide sufficient evidence of mailing of the demand letter prior to initiating foreclosure proceedings.
The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in January 2021.
OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.
OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.
