As much as the False Claims Act has been a formidable government enforcement tool against FHA loan originators, the statute is also being used increasingly against mortgage servicers, according to compliance experts. Within the last 18 months, the DOJ has expanded FCA use to reverse mortgages and loan servicing, according to Phil Schulman and Krista Cooley, both partners in Mayer Brown’s Washington office and members of the firm’s Consumer Financial Services group, during a recent podcast. While the Department of Justice has consistently used the FCA and its treble-damage provision to enforce FHA loan origination rules, the economic downturn and foreclosure crisis has put...

Over the past 18 months or so, the DOJ has expanded FCA use to reverse mortgages and loan servicing, according to attorneys Phil Schulman and Kristie Kully…

Rep. Luetkemeyer stresses that housing finance reform is a “very difficult” issue…

New applications from issuer-wannabees is at the lowest point in nearly eight years, the agency estimates.

Glen Messina is no longer CEO of PHH, but he will be hanging around nonetheless…

A group of servicers and other industry participants is focusing on issues with government-insured mortgages and has plans to simplify servicing practices. The Mortgage Servicing Collaborative was organized by the Urban Institute’s Housing Finance Policy Center. It includes representatives from a number of major servicers along with some officials from trade groups, consumer groups, investors, mortgage insurers, vendors and academics. The goal is...

Maybe GSE 'recap and release' is DOA?

Committee Chairman Mike Crapo, R-ID, listed maintaining the TBA market and the 30-year fixed-rate mortgage among his important principles for reform…

“This is a big step for them [Movement],” said consultant David Lykken, president of Transformational Mortgage Solutions.

Under NAR's plan, a portion of GSE profits would be deposited into a liquidity fund controlled by the FHFA.