Mortgage

Federal Housing Finance Agency Director Bill Pulte levied accusations of mortgage fraud against New York State Attorney General Letita James in a letter submitted to the Department of Justice. Read on »

The Federal Bureau of Investigation’s Boston division issued a warning to real estate professionals and borrowers about increasing reports of fraud targeting transactions across the Northeast. Read on »

The House passed its budget resolution, setting the stage for Congress to begin its reconciliation process, which is expected to include discussions about extending the 2017 Tax Cuts and Jobs Act cuts while implementing additional cuts, reducing spending, and raising the debt ceiling. Read on »

Real estate finance professionals welcomed the reintroduction of legislation in the House and Senate aimed at eradicating the use of trigger leads in the real estate marketplace. The bills are the latest in a long series of bipartisan attempts to do so over the past half decade. Read on »

The 2024 Regulatory & Risk Management Indicator Survey by Wolters Kluwer highlighted key shifts in compliance concerns among financial services professionals amid persistent uncertainty from both a regulatory and economic perspective. The global information services firm supplemented its survey responses, compiled in December last year, with a webinar and a poll shortly after the second Trump administration entered the White House. Read on »

In light of the Trump administration’s plans to drastically reduce fair housing enforcement capacity at the Department of Housing and Urban Development, the Government Accountability Office signaled its intent to launch an investigation into recommendations by the Department of Government Efficiency, led by Elon Musk.  Read on »

The financial services industry has had its hands full keeping up with a multitude of actions by federal agencies rescinding and sometimes replacing guidance and entire programs related to regulatory provisions and the treatment of digital assets. Learn about some of the most recent actions affecting financial policy in this regulatory roundup. Read on »

Rocket Companies reached a $9.4 billion agreement with Mr. Cooper to acquire the mortgage servicer in an all-stock purchase agreement that leaders of both companies say will generate more revenue opportunities, as well as value and cost savings for their clients. The transaction is expected to close in the fourth quarter, pending regulatory approval. Read on »

The Trump administration announced it intends to eliminate a Department of Veteran Affairs’ (VA) program launched last year to help veterans who are struggling financially to avoid foreclosure. The mortgage industry had supported the program’s formation to replace the VA’s “partial claim” program, which some Republicans now want to bring back in some capacity. Read on »

Pacific Residential Mortgage, LLC, reported a data breach to the California Attorney General on March 25, stemming from a ransomware attack against the Oregon-based mortgage company. Read on »