The GSEs reported big profits for 2013 but even the companies' executives question the sustainability of those earnings.
A technical reading of the rule supports excluding charges by a broker's title affiliate from the 3% fee cap. But without a specific interpretation from the CFPB, it would be unwise to risk a loan's QM status.
The demolitions in this Michigan city of about 100,000 people are part of the stepped up efforts by officials in several Midwestern states to rid their blighted neighborhoods of decayed housing that's depressing prices.
Bruce Berkowitz, the money manager battling the U.S. government over the future of Fannie Mae and Freddie Mac, is calling on the boards of the mortgage-finance giants to build capital instead of turning over their profits to Treasury now that they've returned to profitability.
Two of the three major nonbank servicers are sticking by plans to acquire portfolios from banks this year, in spite of regulatory scrutiny and concern they are growing too fast.
Government mortgage programs for this country's more than six million Native people are accelerating home loan credit access to this underserved group of people. But seemingly intractable housing problems endure.
Freddie Mac will return $10.4 billion in profits to the Treasury Department next month, bringing total payments to about $10 billion above what it got in aid under conservatorship.
A "tangled web of conflicts could create incentives that harm borrowers and push homeowners unduly into foreclosure," Benjamin Lawsky warns.
The Securities and Exchange Commission wants public input on the idea of requiring loan-level data disclosure to be made through an investor website rather than on the public EDGAR system.
Private issuers need certainty to create a new secondary mortgage market, MBA and SIFMA officials say.
The Consumer Financial Protection Bureau levied a $83,000 civil money penalty on Monday against Connecticut-based First Alliance Lending, a specialty firm that focuses on providing loss-mitigation financing to distressed borrowers.
Prospect Mortgage did everything right to defend itself against overtime and minimum wage claims from salespeople, though some industry attorneys caution the rulings in its favor may have limited applicability.
Lenders should be aware auditors are focusing on 1099 payments due to the concern that the payments could be a vehicle for compensation no longer permissible under the Dodd-Frank Act.
Mortgage servicing has long been a scale business, but rising compliance costs are now threatening the survival of smaller operations that lack efficient systems or staff expertise, industry experts say.
Two Florida men have been sentenced to serve seven years in federal prison for swindling more than $4 million from borrowers who were behind on their mortgages.