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.
Mortgage Fraud Blog -- Stephanie Abbott
Former President of First Mortgage Company Ronald J. McCord of Oklahoma City was sentenced to 104 months in prison for defrauding locally-based banks, Fannie Mae, homeowners, and others through a broad range of fraudulent conduct.
Mortgage Fraud Blog -- Stephanie Abbott
Two people were indicted on federal charges for a scheme in which they allegedly used fraudulent property deeds to steal residential real estate property in the District of Columbia.
Search our Compliance Calendar for current regulatory changes & updates.
51 attorneys general across the country signed a letter to support the Federal Communications Commission (FCC) in the fight against robocalls by restricting access to numbering resources and urging further action.
On November 24, 2021, Keyaira Bostic of Pembroke Pines, Florida, was convicted for fraudulently obtaining a Paycheck Protection Program (PPP) loan guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
The Data Book provides the most recent fiscal year information available on robocall complaints, the types of calls consumers reported to the FTC, and a complete state-by-state analysis.
The Cybersecurity and Infrastructure Security Agency (CISA) and the Federal Bureau of Investigation (FBI) issued a reminder and best practices for organizations to take appropriate precautions to reduce their risk of cyberattacks around the holiday season.
"ACES has made my life so much easier from a QC perspective. It's life-changing"
- Kelly Cooper Spencer, QC & Business Intelligence Data Manager at Thrive Mortgage
A Memorandum of Understanding (MOU) between the Departments of Justice and Housing and Urban Development that sets forth guidance on the appropriate use of the False Claims Act (FCA) for violations by Federal Housing Administration (FHA) lenders was signed.
The CFPB has released a report summarizing its work to help homeowners avoid foreclosure
Consumer Finance Monitor - John Culhane, Jr
A new report published by the CFPB looks at demographic characteristics of disputers and the outcome of disputes on auto loans, student loans, general purpose credit cards, and retail credit cards opened between 2012 and 2019.
he 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 August 2021.
Presented by ACES Quality Management's EVP of Compliance, Amanda Phillips, and Ballard Spahr's Reid Herlihy, Richard Andreano, Jr., and Matthew Morr.
The Office of the Comptroller of the Currency (OCC) released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of October 1, 2021 through October 31, 2021.
Mortgage Fraud Blog
On October 26, 2021, Ira Morya David of Irving, Texas, pleaded guilty to conspiracy to commit wire fraud.
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in September and announces that there are no administrative hearings scheduled for November 2021.
Mortgage Fraud Blog--Rachel Dollar
Seven defendants from Florida and New Jersey were sent to federal prison for their roles in a fraud scheme that involved stealing identities, creating and using fake foreign passports, impersonating homeowners, and falsifying loan documents to trick lenders into providing millions of dollars of mortgage loans on unencumbered residential properties.
