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Mortgage Fraud: Data Confirms Spike in 2006-2007 23 Aug 2013 | 11:58 pm
The Financial Crimes Enforcement Network (FinCEN) has released an analysis of Mortgage Fraud SAR Filings in Calendar Year 2012. The report was issued on August 20, 2013. This publication updates FinCE...
Revolving Door Regulators 6 Aug 2013 | 09:02 pm
Senator yesterday. Lobbyist today. Representative yesterday. CEO today. Cabinet level appointee yesterday. Bank Chairperson today. Government Agency Director yesterday. Law firm senior partner toda...
Steering Consumers to Expensive Mortgage Loans 24 Jul 2013 | 06:25 pm
The CFPB announced that it had filed a complaint yesterday in a federal district court against Utah-based Castle & Cooke Mortgage, LLC (“C & C”) and two of its officers for illegally giving bonuses to...
CFPB: Spying to Protect the Consumer 22 Jul 2013 | 05:54 pm
It all began with a Bloomberg article. Although the CFPB spying on the financial habits of at least 10 million consumers seems to be a far cry from NSA's spying on the telephone calls, emails, snail m...
Policy, Procedures, and Examinations - Part II: Mortgage Bankers 16 Jul 2013 | 09:35 pm
The most common question my colleagues and I are asked by prospective clients is whether we provide the “full set” of policies and procedures for all of the mortgage acts and practices. Of course we d...
CFPB’s Mortgage Rules for Readiness 10 Jul 2013 | 09:57 pm
The just released 2013 CFPB Dodd-Frank Mortgage Rules Readiness Guide (Guide) from the Consumer Financial Protection Bureau (CFPB) provides, finally, a set of criteria and preparation procedures for r...
Anti-Money Laundering Program: Testing 5 Jun 2013 | 07:27 pm
I learned recently some rather extraordinary news: my firm is currently the only mortgage risk management firm in the country offering testing of a Residential Mortgage Lenders and Originator’s (RMLO’...
FinCEN: Accountant and Elder Abuse 17 May 2013 | 10:14 pm
We have been keeping track of FinCEN's SAR Activity Review – Trends, Tips & Issues virtually from its inception. In its just issued May 2013 report, FinCEN provides new information regarding two area...
GSEs: Ability-to-Repay and Qualified Mortgages 7 May 2013 | 11:27 pm
Yesterday, the Federal Housing Finance Agency (FHFA) announced that it is directing Fannie Mae ("Fannie") and Freddie Mac ("Freddie") to limit their future mortgage acquisitions to loans that meet the...
FHA: Mortgagee Review Board - Administrative Actions 30 Apr 2013 | 03:00 pm
Periodically, we review with you the types of administrative actions taken by HUD's Mortgagee Review Board (MRB). The review of the MRB's published administrative actions should be considered a teach...
