Oklahoma-based First Mortgage’s former President Ron McCord faces 24 counts of bank fraud, money laundering and making a false statement to a financial institution.

The MBA has urged FHA to clarify whether borrowers who had opted for HAMP in the past 24 months are eligible for partial claims.

A whistleblower-initiated investigation has resulted in Guaranteed Rate agreeing to pay $15 million for violating False Claims Act rules.

Regulators have acknowledged that the lack of legal clarity and the speedy implementation of the new forbearance requirements may set the stage for exploitation by unscrupulous or ill-informed servicers.

Milbank has received a one-year, $3 million contract to provide legal services related to ending the conservatorships of the GSEs.

Proposed legislation in New York could reduce legal uncertainties and economic difficulties associated with moving legacy adjustable-rate mortgages away from the London Inter-Bank Offered Rate.

The Department of Justice’s antitrust investigation into FICO appears to be related to an ongoing civil lawsuit between the company and TransUnion regarding underpaid royalties.

In more troubles for Sterling Bank and Trust, the lender’s residential mortgage operations are now under investigation by the Department of Justice.

There seems to be no clear consensus among the Supreme Court justices hearing the case challenging the constitutionality of the Consumer Financial Protection Bureau.

If Treasury converts its senior preferred shares to commons and the GSEs go for a public offering, existing shareholders will take a haircut. Valuations on the commons could dip to $1/share for Fannie and $2 for Freddie.