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California-based First Mortgage Corporation, a lender that issued Ginnie Mae RMBS backed by loans it originated, has agreed to pay $12.7 million to settle fraud charges brought on by the SEC.
Read More »First Mortgage Settles SEC RMBS Fraud Charges
Home >> Tag Archives: U.S. Securities and Exchange Commission
SEC Commissioner: ‘Transparency, Accountability Central to Efforts in Financial Markets
The Securities and Exchange Commission is shifting its focus toward greater transparency amid the rapid and significant technological innovations going on in our financial markets, while maintaining and instilling greater accountability.
Read More »Wells Fargo to Settle With FHA Over ‘Reckless’ Mortgage Claims
Since 2012, Wells Fargo has been battling the U.S. government regarding allegations that it was "reckless" in certifying the credit and underwriting quality of FHA loans it originated, but the legal issues could soon be over.
Read More »5 Reasons Financial Reporting Problems Persist in the Mortgage Industry
The U.S. Securities and Exchange Commission is cracking down on those involved directly with the financial reporting processes, which is causing a number of issues in the mortgage industry.
Read More »SEC Releases Examination Priorities for 2016
The Securities and Exchange Commission’s changes to liquidity risk-management programs were released this week, as expected, and aim squarely at improved compliance and on protecting investors in ongoing risk areas.
Read More »Dodd-Frank: How Far Agencies Have Come and What’s Next?
As the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act prepares reach its fifth anniversary, a new report found that although the majority of the rules set forth in this act have already been implemented by various federal regulated agencies, there are several reform rules that have yet to be enacted, including rules for executive compensation, derivatives, and consumer debt.
Read More »CEOs of Fannie Mae and Freddie Mac to Receive Pay Raises
Fannie Mae and Freddie Mac CEOs are expected to get multimillion-dollar increases to their paycheck approved by the GSE’s regulator, the Federal Housing Finance Agency (FHFA), according to recent 8K Filings (Mayopoulos and Layton) with the U.S. Securities and Exchange Commission (SEC). On June 29, 2015, the FHFA approved changes to the compensation of Fannie Mae’s CEO Timothy J. Mayopoulos, and Freddie Mac’s CEO Donald H. Layton to address recent objectives outlined by the FHFA. Both salary adjustments will go into effect on July 1, 2015.
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