Report Highlights Weak Financial Crime Prosecution
There's a new Warren report out, and this one takes a look at the poor job by federal prosecutors and regulators of prosecuting financial crimes.
Record MBS, Treasury Bond Profits at Fed
The Federal Reserve has reported that it handed over a record amount of bond investment profits to the Department of the Treasury.
Only Half of TARP Housing Funds Disbursed
Less than half of the funds from the Troubled Asset Relief Program that were designated for housing assistance have actually been disbursed.
Hundreds Prosecuted for TARP-Related Crimes
While most of the $700 billion in taxpayer funds that was pumped into the Troubled Asset Relief Program was put to good use, some of the fund's recipients proved to be nefarious.
Mortgage Lender Witch Hunt Turns Up Bogus Leads
An attempt by a Florida county clerk to uncover fraud by lenders and banks turned up over 150 suspected cases -- none of which turned out to be legitimate.
NY Times Takes Aim at Mortgage Bankers
Mortgage bankers fired back at the New York Times for a front-page story that alleges government officials turned lobbyists are aiding big banks that seek to capture profits currently being earned by the government-sponsored enterprises.
President Signs Law Limiting GSE CEO Compensation
Multi-million dollar compensation for the chief executive officers of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. has been eliminated by a new law.
House Passes QM Legislation
The House has passed legislation that would give financial institutions a break on Qualified Mortgage rule requirements -- though a presidential veto is likely.
CT Mortgage Firm Converts From Broker to Banker
Norcom Mortgage has made the conversion from mortgage broker to mortgage banker -- growing from dozens of employees to hundreds in the process.
FHA Earns Passing Grade
For the first time in years, the Federal Housing Administration's Mutual Mortgage Insurance Fund has met congressionally mandated capital requirements.