Compliance & Regulation

Federal Reserve Board Gov. Lael Brainard said public comments demonstrate a desire among stakeholders for reforms to be implemented consistently across the Fed, OCC and FDIC.

Residential mortgage-backed securities servicers are better able to weather a downturn and the resulting loan defaults today versus before the crisis because of their investments in technology and regulatory compliance, Fitch Ratings said.

The Senate Banking Committee chairman released an outline for overhauling the U.S. housing finance system more than 10 years after the government put Fannie Mae and Freddie Mac into conservatorship.

China Oceanwide's acquisition of Genworth has been postponed until March, prolonging uncertainty about the fate of the acquired company's U.S. private mortgage insurance unit that could be resolved by the deal.

The agency's acting director said he welcomes lawmakers' “insight and perspective” on how to end the conservatorships of Fannie Mae and Freddie Mac.

Ginnie Mae has restricted loanDepot's ability to securitize Veterans Affairs mortgages because of apparent churning of recent originations.

A White House spokeswoman said the administration wants to work with Congress on a housing finance reform plan, providing evidence that changes might not be imminent.

Fixing the housing finance system is "the last piece of unaddressed business from the financial crisis," according to a summary of to-do items released by the Banking Committee's chairman.

The same TILA-RESPA integrated disclosure errors continue to plague mortgage lenders, though those documents have been required for over three years, a report from MetaSource said.

The hiring of a former GOP congressional aide suggests the bureau will continue to rely on political appointees in senior positions.