Kate Berry

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The Federal Housing Finance Agency said Wednesday that conforming loan limits for mortgages purchased by Fannie Mae and Freddie Mac will remain at existing levels except in 39 high-cost counties.
Bryan Sullivan, the CFO at LoanDepot, talks about its growth prospects without fuel from an initial public offering, how getting consumers to opt for home equity lines of credit is tough, and why he considers the nonbank a disruptor.
Prospect Mortgage, a Sherman Oaks, Calif., nonbank lender, has agreed to pay $10.1 million in borrower restitution and penalties for violating federal and state laws, California's Department of Business Oversight said Thursday.
Luther Burbank Savings, in Santa Rosa, Calif., has established three home loan programs aimed at helping low- and moderate-income borrowers afford to buy homes in nine California counties.
Freddie Mac posted a third quarter loss of $501 million, its first quarterly loss in four years, but the government-sponsored enterprise will not request a draw from the U.S. Treasury.
Freddie Mac Chief Executive Donald Layton insisted Tuesday that the government-sponsored enterprise showed "very strong fundamentals" in the third quarter, despite reporting a $501 million loss due to an accounting mismatch with its use of derivatives.
The government-sponsored enterprise is working to rebuild partnerships with church organizations and housing financing agencies as part of a broader effort to make owning a home affordable for low- and moderate-income families.
Bank of America has agreed to pay $335 million to settle a lawsuit claiming it misled shareholders about risky mortgages and its dependence on the electronic mortgage registry known as MERS.
The CFPB’s expanded data requirements for the Home Mortgage Disclosure Act will create a powerful tool for analyzing fair lending compliance. But some say the initiative is a massive overreach that could compromise borrower privacy.
Mortgage servicer Ocwen Financial failed four servicing tests in the second half of 2014. Joseph A. Smith Jr., the monitor of the $25 billion national mortgage settlement, said the Atlanta servicer was “beginning to show progress” in complying with terms of the 2012 agreement.
The head of the Consumer Financial Protection Bureau warned software vendors that they face new scrutiny from regulators for causing mortgage lenders to miss the TRID-compliance deadline. He was vague about how far the CFPB might go, but many in the industry are prone to fear the worst.
Mortgage servicers have gotten a rare reprieve from the Federal Housing Administration.
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