Compliance Newshub
Legal News

MBA Newslink

This update includes information on recent agency and federal updates. 

Weiner, Brodsky, Kider PC

The Supreme Court is now being asked to review the decision as to the net worth sweep agreement between the Treasury Department and the FHFA that was made last September.

The FDIC published a list of banks examined for CRA compliance for December 2019.

The FDIC issued its list of state nonmember banks evaluated for compliance with the Community Reinvestment Act (CRA) in September 2019.

HousingWire--Ben Lane

Ahuja has been convicted of lying about the value of hedge funds that included residential mortgage-backed securities and sentenced to more than four years in prison.

Comments or inquiries relating to an upcoming CRA examination or to a pending bank application subject to CRA should be submitted to the Regional Office where the bank or state savings association is headquartered.

DSNews--Seth Welborn

A California Second Appellate District judge ruled in favor of PennyMac, finding that assignments of mortgage on a defaulted loan remain valid, and the transfers of servicing had no adverse impact on the defendant's state of default or subsequent foreclosure action.

Mortgage Fraud Blog--Rachel Dollar

Two men were found guilty in connection with defrauding mortgage lenders and investors out of nearly $500,000 in proceeds from about 90 short sale transactions using their mortgage short sale assistance company.

Mortgage Fraud Blog--Rachel Dollar

Two Floridians have plead guilty to conspiring with others to execute a scheme to influence the credit decisions of financial institutions in connection with the sale of condominium units at The Preserve at Temple Terrace, a 392-unit condominium complex

MReport--Mike Albanese

The House Financial Services Committee issued a letter to HUD Secretary Dr. Ben Carson opposing the proposed changes to the disparate impact standard of the Fair Housing Act.

The CFPB announced settlements with a military travel lender and servicer who misrepresented the true cost of credit in violation of the Consumer Financial Protection Act of 2010 (CFPA), charging fees that exceeded those charged to consumers who paid in full and failing to include those fees in the finance charge or the APR.

MBA Newslink--Mike Sorohan

This week's advocacy summary includes the Temporary Government Funding Bill, CFPB to Consider Changes to Loan Originator Compensation Rule, Key Developments Ahead of MLO Temporary Authority Implementation, MBA Seeks Flexibility from VA on Refinance Cures, and more.