News & Analysis as of

Freddie Mac Withdraws Fraud Training Requirement, Updates Various Selling Requirements

On November 15, Freddie Mac issued Bulletin 2013-23, which withdraws recently announced fraud training requirements and describes various changes to other requirements. Citing the need to assess industry feedback, Fannie Mae...more

Another Court Affirms DOJ Financial Fraud Strategy

On Sept. 24, 2013, Judge Jesse Furman in the Southern District of New York released his widely anticipated decision allowing the U.S. Department of Justice’s False Claims Act and Financial Institutions Reform, Recovery and...more

Freddie Mac Revises Numerous Selling, Servicing Requirements

On September 24, Freddie Mac issued Bulletin 2013-18, which updates and revises certain selling and servicing requirements. Effective October 1, 2013, Freddie Mac will require that seller/servicers (i) provide third-party...more

HOLA Does Not Preempt Fraud Claims against Mortgage Loan Servicer, California District Court Rules

The Southern District of California recently held that claims against a mortgage loan servicer are not preempted by the Home Owners Loan Act (HOLA) when they rely on "general allegations of misrepresentation" and are only...more

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