The Financial Industry Regulatory Authority fined Citigroup Global Markets [stock C][/stock] $3.5 million for issuing inaccurate mortgage quality data on subprime residential mortgage-backed securitization deals.Finra claimed in...
Long-time HW readers may recall an earlier brouhaha over failed Orange County, Calif.-based brokerage Brookstreet Securities Corp., and regulators' subsequent investigation into collateralized mortgage obligations, or CMOs; at the time, the Financial Industry Regulatory Authority said it was probing individual brokerages over suitability concerns tied to CMOs.
There aren't many areas of the mortgage origination business that are booming, but one area -- reverse mortgages -- has seen high growth despite the industry downturn. And it's now an area that financial experts are growing increasingly concerned about.
Both the Wall Street Journal and Bloomberg reported Friday morning that the Financial Industry Regulatory Authority -- FINRA for short -- is investigating securities brokerage firms' marketing and sale of collateralized mortgage obligations.
HW readers may recall coverage of Orange County, Calif.-based Brookstreet Securities Corp., which went belly-up in June over bad CMO bets.
In what was the most competitive awards program to date, HousingWire is proud to recognize the professional accomplishments of 30 women -- spanning every sector of the U.S. housing economy. Read the stories of our 2014 honorees, and be inspired..
If fair housing bluster were an Olympic event, the podium would be crowded with politicians and corporate mouthpieces. The injustice that once provoked marches and protests now evokes photo-ops and press releases. But have things truly changed? Read More
The sweeping CFPB TILA-RESPA integrated disclosures roll-out will affect almost every residential mortgage loan application that is submitted to a creditor on or after this date. Here, industry expert Jerry Halbrook dives into a breakdown of the wide-ranging impact of the new rule. Read More