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April 20, 2018

House passes measures to address identity theft

Buckley Sandler

On April 18, the House passed H.R. 2905 by a vote of 403-3. The “Justice for Victims of IRS Scams and Identity Theft Act of 2017,” would direct the DOJ and the Treasury Department to submit reports to Congress detailing identity theft prosecutions. The DOJ’s report must contain the number of identity theft cases referred to the agency during...


Federal Legislation
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April 20, 2018

Fannie Mae Allowable Foreclosure Attorney Fees Exhibit Updates

We've updated AAA matrices for all jurisdictions to reflect an increase in the hourly rates for non-routine litigation detailed in the Schedule of Legal Fees and Costs attached to the Mortgage Default Counsel (MDC) Retention Agreement. For hours billed on or after June 1 for matters which Fannie Mae has specifically approved MDC law firms to handle, Fannie Mae will pay:

  • An...

Agency | GSE News
ACES Intelligent Questionnaires
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April 20, 2018

SunTrust Employee May Have Stolen Information About 1.5 Million Clients Names, addresses, phone numbers and account balances may have been exposed

Wall Street Journal--Austen Hufford and Christina Rexrode

SunTrust Banks Inc. said Friday that an employee may have stolen information of about 1.5 million customers and provided it to a “criminal third party,” the latest example of a potential breach that underscores the vulnerability of consumers’ private data.

The Atlanta-based bank said the employee, who no longer works at SunTrust, attempted...


Industry News
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April 20, 2018

Freddie Mac Updated Property Values for Borrowers Impacted by Eligible Disasters

We recently updated BPODirect® with the most recent pre-disaster property values.

When you evaluate borrowers impacted by an eligible disaster that occurred on or after August 25, 2017, for a Freddie Mac Flex Modification®, please use the property values provided in the “Auto Value” field in BPODirect. We’ve updated these to provide the most recent available value prior to the date...


Agency | GSE News
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April 20, 2018

OCC Assesses $500 Million Penalty Against Wells Fargo, Orders Restitution for Unsafe or Unsound Practices

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today assessed a $500 million civil money penalty against Wells Fargo Bank, N.A., and ordered the bank to make restitution to customers harmed by its unsafe or unsound practices, and develop and implement an effective enterprise-wide compliance risk management program.

The OCC’s action was closely coordinated with an action by the Bureau...


Industry News
Customer Testimonials
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April 20, 2018

Tennessee notaries will soon be able perform online notarizations nationwide

Housingwire--Ben Lane

Notaries in the state of Tennessee will soon be allowed to perform online notarizations for signers nationwide after the state’s legislature overwhelmingly passed online notarization legislation.

The bill authorized Tennessee notaries to perform online notarizations passed in the Tennessee Senate by a 30-0 margin, and in the Tennessee House of Representatives by a 94-0 margin.

The bill now...


State News
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April 20, 2018

Bureau of Consumer Financial Protection Announces Settlement With Wells Fargo For Auto-Loan Administration and Mortgage Practices

WASHINGTON, D.C. — Today the Bureau of Consumer Financial Protection (Bureau) announced a settlement with Wells Fargo Bank, N.A. in a coordinated action with the Office of the Comptroller of the Currency (OCC). As described in the consent order, the Bureau found that Wells Fargo violated the Consumer Financial Protection Act (CFPA) in the way it administered a mandatory insurance program...


Industry News