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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Search our Compliance Calendar for current regulatory changes & updates.
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Click to read the putative class action complaint.
Housingwire--Chris Clow
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Housingwire--Connie Kim
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Automated compliance tests to ensure compliance on more loans in less time
Ballard Spahr LLP--Brian Turetsky & John L. Culhane, Jr.
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Mortgage Fraud Blog--Rachel Dollar
Nathaniel Anderson of Willingboro Township, New Jersey, a town councilman and the deputy mayor of Willingboro in Burlington County, New Jersey, and his business associate Chrisone D. Anderson, were charged with conducting a scheme to discharge the deputy mayor’s mortgage obligation on his property through a fraudulent short sale.
Housingwire--Chris Clow
The U.S. Supreme Court will decide whether or not national laws override state laws on mortgage escrow interest payments.
The CFPB has announced the annual inflation adjustments to the agency's civil penalty amounts, effective January 15, 2024.
"By partnering with ACES, we have witnessed an overall improvement in the quality of our reviews."
-Hilda Melendez, Quality Control Systems Director at Lennar Mortgage
On December 8th, the CFPB and FTC filed an amici curiae brief with the U.S. Court of Appeals for the Fourth Circuit urging the reversal of a decision finding that furnishers need not investigate indirect disputes covering legal, as opposed to factual matters, under FCRA.
A new bill introduced by Democrats in Congress would require hedge funds to sell off single-family homes over a 10-year period and ban them from owning single-family homes at all.
Mortgage Fraud Blog--Rachel Dollar
Maria Esperansa Salgado of Maryland pleaded guilty to bank fraud in a scheme to defraud a mortgage lender into agreeing to a short sale, or pre-foreclosure sale, of a residential property in Alexandria, Virginia that was pending foreclosure for non-payment of the mortgage.
Mortgage Fraud Blog--Rachel Dollar
Cabral Simpson of Orange, New Jersey, a real-estate investor, and his conspirators engaged in mortgage fraud by creating fake bank statements and fake employee verification records for buyers of properties and transferring money into the buyers’ bank accounts for payment of the deposit for a property and submitted fraudulent mortgage loan applications, supporting documents, and closing documents on behalf of the buyers.
