Compliance & Regulation

Senator Barbara Boxer, D-Calif., is pressing the GSE regulator to adopt several changes to the Home Affordable Refinancing Program, allowing Fannie Mae and Freddie Mac to refinance more underwater borrowers.

The Mortgage Bankers Association is being inundated by member complaints about the Federal Housing Administration's policy decision to extend the forbearance period for unemployed homeowners to 12 months.

In an ironic twist, the commercial banking industry is coming to the defense of the Consumer Financial Protection Bureau.

If President Obama wants to create jobs in the building trades he should create a housing trust fund to finance the construction and renovation of rental units for extremely low-income households, according to non-profit housing groups.

Flagstar Bank FSB, a top 15 ranked residential lender, Wednesday afternoon acknowledged that it received a delisting warning from the New York Stock Exchange because of its low share price.

Federal banking regulators have long kept state officials at arm's length, but the Consumer Financial Protection Bureau is forging a close relationship with state attorneys general to enforce consumer-banking laws.

Iowa Attorney General Tom Miller late Tuesday removed New York AG Eric Schneiderman from the executive committee of a coalition seeking a civil settlement with the nation's megaservicers, saying he had "actively" undermined the group's efforts over the past few months.

The Obama administration is looking at creating a major refinancing program to help the housing market and give the economy a jolt, according to industry officials.

The Department of Housing and Urban Development is asking Ameritrust Mortgage Bankers Inc. to indemnify the Federal Housing Administration for possible future losses on 10 loans and reimburse the agency $183,327 for actual losses on at least one mortgage.

The American Bankers Association is urging the Consumer Financial Protection Bureau to clarify the term "proxy" in the loan officer compensation rule which the trade group says is causing "serious difficulties" for banks -- and conflicts with federal pension laws.