Compliance & Regulation

Loan origination system provider Wipro Gallagher Solutions has integrated the settlement services pricing data of Ernst Publishing, providing lenders technology to help accurately complete Good Faith Estimate and HUD-1 disclosures.

Some federally-regulated depositories are in danger of missing a July 29 deadline to be registered in the National Mortgage License System and Registry, exposing themselves to possible sanctions from regulators.

Harried lenders that have not already identified imminent compliance needs related to the massive Dodd-Frank Act’s largely neglected “whistleblower” and fair lending requirements can do so more simply and cost-effectively than they may think, according to one legal expert.

The Consumer Financial Protection Bureau began operations last week, as required by the Dodd-Frank Act, but there were few celebrations. Instead, the House of Representatives voted on a bill to restructure the agency while Senate Republicans moved to block confirmation of its first director.

The House of Representatives late Thursday passed a bill to convert the Consumer Financial Protection Bureau into a five-member commission, giving Congress more leeway over how the new agency operates.

Short sale timelines and completions are improving, but servicing executives also know their industry can have better results in the government-backed Home Affordable Foreclosure Alternatives program, according to panelists at this week’s Best Practices in Loss Mitigation Conference in Dallas, sponsored by National Mortgage News.

It appears that the sacred cow known as the mortgage interest deduction is on the table as the White House and Congress grapple on a budget deal to lift the federal debt ceiling.

Six Federal Home Loan banks have launched a salvo against Bank of America Corp.'s proposed $8.5 billion mortgage bondholder settlement, suggesting the payout may need to be triple that amount.

Sen. Robert Menendez, D-N.J. is demanding the release of federal reviews of 14 banks that have agreed to fix their foreclosure processes and reimburse homeowners for any harm caused.

A Florida Bar Association opinion could have costly legal ramifications for banks embroiled in the robosigning controversy.