JPMorgan Chase is still arguing with the Federal Deposit Insurance Corp. over the precise wording of its purchase agreement to buy Washington Mutual five years ago. The debate is part of a long process to resolve who bears the ultimate responsibility for WaMu's failed liabilities.
The Federal Insurance Deposit Corp. is allowed to dismantle a firm if it cannot pass through bankruptcy without posing a significant threat to the financial system. Dodd-Frank gives the FDIC the power to do that, and they plan to use it if needed.
The Federal Deposit Insurance Corp. estimates how much it will cost the insurance fund every time it seizes a bank. But the estimated cost and the actual cost don't always match up, leading to deeper losses than expected.
A federal judge dismissed Bank of America’s lawsuit against the Federal Deposit Insurance Corp. over $1.7 billion in investor losses stemming from the collapse of a large regional bank and a large mortgage lender back in 2009.
Wow! That was our reaction to the response we received for this year’s HW TECH100 call for nominations. This year, more than 250 companies submitted a nomination, and we’re grateful for the interest in our efforts with this unique program..
In the tech world a “stack” refers to all the elements of something. For the mortgage industry, the idea of the single stack is that one platform (digital, automated and based in the cloud) can either meet all of the functional requirements involved in assembling a mortgage, or can serve as an efficient moderator for the process via open APIs (application programming interface), which are now taking off within the mortgage industry. Read More
Nothing reeks of hypocrisy more than the regulator ignoring regulations, but the CFPB has racked up plenty of violations in the last year. And we’re not talking about small, nitpicky examples, but instances that have real-life consequences. If a lender or servicer were to violate any of these standards, they could expect swift and harsh punishment from the CFPB. Read More