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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.

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January 25, 2021

OFAC Notice of OFAC Sanctions Action

OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.

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January 22, 2021

CFPB Supervisory Highlights, COVID-19 Prioritized Assessments Special Edition (Issue 23)

The CFPB issued a special edition of Supervisory Highlights, noting observations in its prioritized assessment (PA) supervisory work conducted during 2020 after the sudden onset of the COVID-19 pandemic.

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January 20, 2021

OFAC Notice of OFAC Sanctions Actions

OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.

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January 20, 2021

Consumer Financial Protection Bureau Settles with LendUp Loans, LLC for Military Lending Act Violations

The CFPB filed a proposed settlement to resolve its December 4, 2020 lawsuit against LendUp Loans, LLC (LendUp) alleging violations of the Military Lending Act (MLA), which is the Bureau’s broader sweep of investigations of multiple lenders that may be violating the MLA.

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January 15, 2021

FinCEN Updates: FinCEN Announces $390,000,000 Enforcement Action Against Capital One, National Association for Violations of the Bank Secrecy Act

FinCEN announced that Capital One, National Association has been assessed a $390,000,000 civil money penalty for engaging in both willful and negligent violations of the Bank Secrecy Act and its implementing regulations.

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January 15, 2021

Consumer Financial Protection Bureau Sues 1st Alliance Lending, LLC and Its Principals for Alleged Unlawful Mortgage Lending Practices

The CFPB filed a lawsuit against 1st Alliance Lending, LLC and its principals for allegedly engaging in various unlawful mortgage-lending practices, including violation of the Truth in Lending Act (TILA), the Fair Credit Reporting Act (FCRA), the Equal Credit Opportunity Act (ECOA), the Mortgage Acts and Practices—Advertising Rule (MAP Rule), and the Consumer Financial Protection Act of 2010 (CFPA).

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ACES Impact: ROI Infographic

ACES Impact: ROI Infographic

ACES Customers Achieve Proven, Measurable ROI

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January 15, 2021

OFAC Notice of OFAC Sanctions Actions

OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.

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January 15, 2021

OFAC Hong Kong-Related Sanctions Regulations

OFAC is adding regulations to implement a July 14, 2020, Hong Kong-related Executive order, which will be further supplemented with a more comprehensive set of regulations to include additional interpretive and definitional guidance, general licenses, and statements of licensing policy; effective January 15, 2021.

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January 14, 2021

OFAC Notice of OFAC Sanctions Action

OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.

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January 14, 2021

Clay County Man Indicted In Nationwide Mortgage Fraud Scheme

Department of Justice; U.S. Attorney’s Office; Middle District of Florida

A Florida man has been charged with conspiracy to commit wire fraud and 12 counts of wire fraud, was indicted for conspiracy to commit wire fraud and 12 counts of wire fraud for his role in a nationwide mortgage fraud scheme, using his company to provide "mortgage auditing services in exchange for a fee".

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On Demand Webinar

On Demand Webinar

How to turn your Quality Control Team into a revenue retention department.

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January 13, 2021

Action to Stop Sham Mortgage Relief Scheme Announced

Mortgage Fraud Blog--Rachel Dollar

A New Jersey family of four has been charged for their roles in a loan rescue scheme perpetrated under four corporate entities, to defraud struggling homeowners in mortgage relief services.

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January 08, 2021

OFAC Notice of OFAC Sanctions Actions

OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.

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January 08, 2021

Brooklyn mortgage scam inflicts million-dollar damages to the FHA

Mortgage Professional America – Candyd Mendoza

Mortgage Professional America – Candyd Mendoza

The United States Attorney for the Eastern District of New York revealed the US government is going after three New York Men who allegedly bought homes at reduced prices at the expense of a taxpayer-funded program.

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January 07, 2021

Liberty Parent Ocwen and CFPB Fail to Settle Mediation on 2017 Suit

Reverse Mortgage Daily-Chris Clow

Ocwen Financial Corporation, the parent company to Liberty Reverse Mortgage and PHH Mortgage Corp, has concluded its court-ordered mediation process with the CFPB; however, mediation has failed to produce a settlement.

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