Taylor Bean Settles With 13 States
Allegations of mortgage fraud on nontraditional loans have led to a $9 million settlement with 13 states by Taylor, Bean & Whitaker Mortgage Corp. As part of the agreement, the company will implement a federal modification program.

First American Acquires Mortgage Fraud Firm
A unit of The First American Corp. has acquired a firm that specializes in mortgage fraud prevention.

The Mortgage Litigator
Mortgage lenders and financial institutions are battling a barrage of lawsuits -- with many filed by state or federal government agencies. Several of the actions are tied to mortgage fraud.

LOS Offerings Packed With Features
Providers of loan origination systems continue to load additional services on to their software. Many of the ancillary features are compliance-related, though one consolidates marketing, point-of-sale and closing with the LOS platform. Two others incorporate mortgage fraud prevention and loan servicing.

Mortgage Bill Now Law
New legislation signed into law today improves the Hope for Homeowners Program, increases protections for servicers and makes it harder for bad actors to originate loans insured by the Federal Housing Administration. Another new law provides hundreds-of-millions of dollars for mortgage fraud.

Flood of Mortgage Fraud Cases Expected to Continue The number of mortgage fraud cases being investigated by the Federal Bureau of Investigation increased by more than one-third last year, and no signs of easing are on the horizon. But the chief of the agency said it is deploying new methods and leaning on old ones to fight mortgage fraud.

NC Settles With Parent of Defunct Mortgage Unit
The parent company of a mortgage lender that shut down last year will pay $2.5 million to settle a lending investigation by North Carolina regulators. But a federal investigation into mortgage fraud on government originations lingers.

Lawsuits, Lawsuits, Lawsuits
A net branch operator has been ordered by a judge to pay more than $700,000 to a former vice president who claims she was sexually harassed then fired for complaining. Among several other pending mortgage-related cases are predatory lending actions, fraud lawsuits and appraisal litigation.

Appraisers Vs. Wells
Appraisers have filed a lawsuit against Wells Fargo Bank, N.A., and its appraisal management company alleging that the bank blacklisted them from future orders because they wouldn't fraudulently inflate their estimated values. Two key issues in the lawsuit, however, are resolved by the recently implemented Home Valuation Code of Conduct.