BofA To Pay Nearly $17 Billion To Resolve Mortgage Bond Probe

The agreement with the U.S. Department of Justice eclipses the $13 billion settlement JPMorgan Chase reached with federal and state authorities over similar allegations last November.

FHFA Seeks Feedback On Proposed Single Security For GSEs

The agency is requesting feedback from mortgage industry professionals on all aspects of the proposed single security structure and in particular, issues regarding the transition from the current system to a single security.

Ellie Mae To Buy AllRegs For $30 Million

"With the acquisition of AllRegs, Ellie Mae will expand its customer base and add a broad array of content and services that complement our portfolio of product offerings," says Sig Anderman, CEO of Ellie Mae.

Survey Shows ATR/QM Rules Are Negatively Affecting Approvals

In a survey of loan officers commissioned by the Federal Reserve Board, more than half said the CFPB's ability-to-repay/qualified mortgage rule has reduced approval rates for certain types of mortgages.

Report Lambastes Servicers For Doing Poor Job With HAMP

SIGTARP once again disses mortgage servicers for failing to keep up with the volume of applications for HAMP as well as the Treasury Department for failing to do a better job of overseeing servicers' HAMP activities.

Dominic Iannitti, president and CEO of doc prep and compliance firm DocMagic, says he is "excited" that the company has been selected to participate in the Consumer Financial Protection [Read More]

The Consumer Financial Protection Bureau (CFPB) has revealed the vendors and lenders that will be participating in its mortgage e-closing pilot program, which will explore the viability of developing [Read More]

Six important questions you need to ask about your compliance process_id1314

From The Orb

Due to its "concern" over the "continuing high volume of servicing transfers," the Consumer Financial Protection Bureau (CFPB) is reminding mortgage servicers that it is now applying its new [Read More]

Housing starts jumped in July compared to June to reach the highest level in eight months, as home builder confidence improved, the U.S. Census Bureau reports. The seasonally adjusted [Read More]

Patricia McClung is reportedly leaving her post as single-family housing policy advisor at the U.S. Department of Housing and Urban Development (HUD) to become assistant director for mortgage markets [Read More]

PERSON OF THE WEEK: Kelly Booth is director of the mortgage unit at Velocify, a provider of sales automation software to the financial services industry. MortgageOrb recently interviewed Booth [Read More]

PERSON OF THE WEEK: Leonard Ryan is founder and president of QuestSoft, a provider of automated compliance software to the mortgage banking industry. MortgageOrb recently interviewed Ryan to get [Read More]

Industry Resource