NAMB action alert: Association seeks info on wage and hour audits

National Mortgage Professional

May 11, 2005

SarboxAlert covers Sarbanes-Oxley compliancemortgagepress.comSarboxAlert, Sarbanes-Oxley, regulatory compliance RiskCenter has developed a bi-weekly newsletter, SarboxAlert, devoted to executives responsible for executing Sarbanes-Oxley compliance programs. To address Sarbanes requirements, these compliance professionals must not only have a comprehensive understanding of Sarbanes-Oxley regulations but also stay current of these ever-changing laws. SarboxAlert provides ongoing support and current information with the following features: late-breaking news from regulatory and standards bodies; articles and primers to ease understanding of complicated compliance topics; SarboxAlert project templates that generate ready-made templates, checklists and action plans that can be customized; and Sarbox communication and documentation materials, including talking points, communication plans, sample messages and e-mail templates. SarboxAlert will be accessible in PDF format. To accompany the newsletter, there will also be a Web site, www.SarboxAlert.com, which will be launched in the second quarter of 2005. Based in New York, RiskCenter provides an online syndicated news service for financial risk management professionals. For more information, call (212) 825-1525 or visit www.riskcenter.com.

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May 11, 2005

Analysis and Data

Mortgage Rates Fall For 3rd Straight Week

The 30-year mortgage dropped to 6.32%, lowest since mid-February.

Amid continued economic unrest, mortgage rates fell for the third consecutive week this week, Freddie Mac said Thursday. According to the government-sponsored enterprise’s Primary Mortgage Market Survey (PMMS), the 30-year, fixed-rate mortgage (FRM) averaged 6.32%, down 10 ...

Regulation and Compliance

Chopra: Nonbanks, Mortgage Servicers May Also Pose Systemic Risk

CFPB director tells Consumer Bankers Association conference such a failure could lead to 'chaos.'

What happens if a nonbank lender or large mortgage servicer fails? That’s a question that recently has been keeping Consumer Financial Protection Bureau Director Rohit Chopra awake at night. "A major disruption or failure of a large mortgage servicer really gives me a night...