Compliance & Regulation

In a court filing, America’s Moneyline claimed the wholesale lender refused to fund over 100 loans held in its pipeline unless it ceased working with leading competitors.

United Wholesale Mortgage’s litigation could prompt regulators, including the Federal Trade Commission, to examine the contract that bars third-party originators from doing business with Rocket and Fairway.

The Community Home Lenders Association sent a letter to the Consumer Financial Protection Bureau Director Rohit Chopra stating that smaller and mid-sized mortgage bankers should be governed on assets, volume size and the extent of state oversight.

The nonprofit received a $1.5 million grant to monitor, evaluate and strengthen consumer protections in the digital financial marketplace. Here's what it's doing with the funds.

Derek Flowers, a 24-year company veteran, will replace the retiring Amanda Norton. Flowers' familiarity with the megabank's operations will help as it continues working through regulatory consent orders, CEO Charlie Scharf said.

The government-sponsored enterprise also unveiled two new tranche slices for investors to purchase.

Is Bitcoin at a "tipping point" and could it one day be the currency of choice for trade? The future for digital currencies can be bright, but there are still risks involved. In this session join Yan Zhao, President of NYDIG as she explores: (1) the overall discussion of how Bitcoin is experiencing wider adoption in the traditional finance world, and why that is; (2) Recent partnerships in the financial sector and how they've helped evolve the space; and (3) how and why organization are embedding Bitcoin in various financial services products like lending, payroll, banking, and investing.

The North Carolina company has estimated the degree of exposure to flooding and hurricanes that exists in its mortgage and commercial loan books and has tallied its losses from severe storm damage in recent years. It’s one of a few regional banks to publish assessments based on the criteria of a global task force.

The federal sentencing of the onetime president of the Mortgage Bankers Association, Ron McCord, follows a guilty plea and admissions related to improprieties in warehouse lending and servicing arrangements.

Last week, the world of mortgage servicing got an unpleasant surprise. Cenlar FSB, the nation’s largest subservicer of residential mortgages, was hit with a consent order by the Office of the Comptroller of the Currency alleging “unsafe and unsound” banking practices.