How Disparate Impact Ruling Affects Lenders' Daily Operations
The Supreme Court's recent ruling that the disparate impact theory of liability can be applied to the Fair Housing Act means mortgage lenders must be even more vigilant in their ongoing testing and evaluation of business practices that could be interpreted as even unintentional discrimination.
BOK Financial Hires New Mortgage Chief
BOK Financial has hired Glenn Brunker to oversee mortgage operations and manage the bank's transition to a new federally required consolidated mortgage disclosure regime.
Civil Rights Group Calls for Recapitalizing GSEs
The Leadership Conference on Civil and Human Rights wants to recapitalize Fannie Mae and Freddie Mac to provide a secure source of funding for affordable housing.
What Gay Marriage Ruling Means for Mortgages
The Supreme Court decision making same-sex marriage legal nationwide could boost mortgage demand as it provides gay and lesbian couples with more financing opportunities and stronger joint property rights.
Industry's Hopes of Killing 'Disparate Impact' End with Thud
Despite some silver lining, analysts say the Supreme Court decision upholding "disparate impact" in fair-lending disputes will only embolden activists and regulators to bring more cases.
Consumer Stories Added to CFPB Complaint Database
The Consumer Financial Protection Bureau went forward with a controversial move Thursday to include narratives in its complaint database.
CFPB Civil Rights Officer Says Agency Makes 'Mockery' of Process
A senior civil rights official at the Consumer Financial Protection Bureau is poised to tell Congress Thursday that the agency willfully disregards the process for handling internal employee complaints of discrimination and has repeatedly retaliated against staff who spoke out.
State Nonbank Servicing Plan Is 'Duplicative,' Groups Say
Two groups representing small and mid-size lenders say new proposed state mortgage servicing standards for nonbanks will add an unnecessary layer of regulatory burden, especially for firms servicing Fannie Mae and Freddie Mac loans.
CFPB Delays TRID Two More Days to Schedule Saturday Launch
The Consumer Financial Protection Bureau's new mortgage integrated disclosure rules will now take effect Saturday, Oct. 3, two days later than the previously rescheduled Oct. 1 deadline.
How Basel Rules Are Threatening Construction Lending
Bankers and commercial real estate developers are protesting new restrictions on construction lending, arguing they are poised to hurt credit availability and drive loans into risky, unregulated sectors.
Senate Democrats Press Regulators Over Racial Disparities in REO
Senate Democrats are urging regulators to investigate potential discrimination in how banks and other financial institutions handle and market foreclosed homes.
Interest-Only Mortgages Are Coming Back, But With Safety in Mind
The second-largest provider of U.S. mortgages through brokers is bringing back a debt type that that's almost disappeared since the financial crisis: Interest-only loans.
Final Rule Implements Flood Insurance Changes
Regulators finalized a rule Monday requiring banks to escrow flood insurance premiums and fees for loans on real estate located in a flood zone.
Minority Mortgage Applicants Denied at Higher Rates
Black and Hispanic home-loan applicants in New York are more than twice as likely to be denied as white applicants, a study by StreetEasy found.
FHA Issues New Guidance on Loan Defects
FHA tries to clarify what loan defects will bring the harshest penalties to guide lenders and instill more confidence.