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--Rachel Dollar
J. Reed Pirain and Renee Vasilko of Pennsylvania have been indicted by a federal grand jury in Pittsburgh, on conspiracy and fraud charges alleging they knowingly and willfully conspired to defraud HUD by bidding on and purchasing property as intended homeowners, only to renovate and the sell the property for profit.
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.
The Office of the Comptroller of the Currency (OCC) issued a Consent Order against Cenlar FSB of Ewing, N.J based on the bank’s failure to establish effective controls and risk management practices related to its mortgage servicing and subservicing activities.
The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations in September 2021.
The Bureau and U.S. Department of Justice, in cooperation with the Office of the Comptroller of the Currency, took action against Trustmark National Bank for alleged discrimination against Black and Hispanic neighborhoods by deliberately not marketing, offering, or originating home loans to consumers in majority-Black and Hispanic neighborhoods in the Memphis metropolitan area.
The regulatory forecast has warned of increasing regulations and requirements over the last year, and those predictions are now coming to fruition.
"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
OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.
DSNews -- Robert Finlay, right, Finlay & Zak; Joan C. Spaeder-Younkin, Wright, Finlay & Zak\
The Court of Appeal for the Second Appellate District in California recently confirmed that a loan servicer can remedy HOBR violations prior to the actual foreclosure sale, avoiding having to restart the entire foreclosure, by reviewing the borrower for a loan modification prior to the foreclosure sale.
OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.
The Consumer Financial Protection Bureau (CFPB) filed a complaint and proposed consent order alleging that American Advisors Group (AAG) used inflated and deceptive home estimates to lure consumers into taking out reverse mortgages.
Presented by ACES Quality Management's EVP of Compliance, Amanda Phillips, and Ballard Spahr's Reid Herlihy, Richard Andreano, Jr., and Matthew Morr.
HousingWire -- Flávia Furlan Nunes
Ex-marketing director for Residential Home Funding Corp sues top male executives for sexual harassment.
OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.
FDIC issued its list of state nonmember banks evaluated for compliance with the Community Reinvestment Act (CRA), covering evaluation ratings that the FDIC assigned to institutions in October 2021.
OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.
