April 20, 2018
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...
April 20, 2018
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:
April 20, 2018
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...
April 20, 2018
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...
April 20, 2018
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...
April 20, 2018
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...
April 20, 2018
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...
