nationalmortgage

Regulation & Compliance

• New Hard Money Trade Group States Priorities

  National Mortgage News | September 8

  A new trade group that caters to the 'hard money' segment of the mortgage industry has drafted a code of ethics for its members — lenders that are privately held and cater to borrowers who can't get credit elsewhere.

• MBA Asks FHFA for Assurances on GSE Servicing Rights

  National Mortgage News | September 8

  The Mortgage Bankers Association is asking the Federal Housing Finance Agency to assure lenders that their servicing contracts with the GSEs will not be repudiated in the event of their liquidation by the government.

• Roughly 55% of Bank Donations to go to GOP

  National Mortgage News | September 7

  Though Democrats scored a big political victory in passing regulatory reform, many are already paying for it as the financial services industry directs more of its contributions toward Republicans and moderates who tried to pare back the revamp.

• FHA Refi Program for Underwater Loans Unveiled

  National Mortgage News | September 7

  The Federal Housing Administration Tuesday morning officially launched a new refinancing program to aid underwater borrowers, allowing lenders to write a new government-backed mortgage where up to 10% of the original loan amount will be forgiven.

• Warren for CFPB Chief Speculation Continues to Mount

  National Mortgage News | September 7

  The speculation over whether Harvard professor Elizabeth Warren will be nominated as director of the Consumer Financial Protection Bureau refuses to die.

• Implementing Dodd-Frank to End Too Big To Fail

  National Mortgage News | September 3

  To fully end "too-big-to-fail" we need to make our financial system safer for failure. We cannot rely on the hope of perfect foresight—whether by regulators, or by managers of firms, private sector gatekeepers, or other market participants. Financial activity involves risk, and no one will be able to identify all risks or prevent all future crises.