Tag Archives: Compliance

Bank of America announced it's on track to fulfill consumer relief requirements as part of the national mortgage settlement.

RxOffice Compliance developer IndiSoft announced a partnership with the law firm of K&L Gates to keep on top of regulatory changes that affect users.

Document and compliance software developer DocMagic, Inc., announced it has successfully customized and integrated its loan origination and package compliance solutions for the benefit of the more than 200 correspondent bank customers of Winona, Minnesota's Merchants Bank.

According to the CFPB, an examination of financial institutions found "instances of significant non-compliance with" regulatory statutes.

Compliance and risk management professionals will flock to Texas in November for Wolters Kluwer Financial Service's 16th annual CRA & Fair Lending Colloquium. The financial services company is hosting the event November 12-15 at The Westin La Cantera in San Antonio. The colloquium is an opportunity for senior compliance and risk management executives to discuss their most pressing concerns with top regulators and industry leaders.

As the market recovers, Berkery Noyes anticipates more volume in originations and greater need for alliances between mortgage and tech companies.

The Mortgage Bankers Association released a letter urging the CFPB to avoid proposals that may lead to consequences harmful to the industry.

One in eight banks wouldn't be able to maintain adequate capital in a stressed economic environment, according to a Trepp report. Using data from Q2, 784├â┬ó├óÔÇÜ┬¼├óÔé¼┬Ø12.7 percent├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øof banks tested failed to meet capital adequacy requirements. For banks that failed the test, Trepp estimates an additional $25 to $27 billion of combined capital would be needed to achieve a passing grade. A test rendered using the increased capital ratio requirements under Basel III yielded more alarming results, with 23.5 percent of banks failing to keep adequate capital.

The Community Mortgage Lenders of America (CMLA) is now 100 members strong, the organization announced.

Neither Barack Obama nor Mitt Romney has seemed particularly enthusiastic about discussing housing on the national stage, but Wednesday's debates saw a brief skirmish between the two candidates about regulation for the mortgage industry. The fleeting exchange on banking and mortgage regulation comes at an apt time, as New York attorney general Eric Schneiderman filed a lawsuit earlier in the week against JPMorgan Chase over mortgage securities fraud committed by a former Bear Stearns unit.