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The National Association of Mortgage Brokers this week confirmed that it has ended its legal challenge of the Federal Reserve Board's controversial rule on loan officer compensation and is looking at alternative ways of changing how LOs are paid.
June 3 -
While many industry groups are trying to block implementation of certain Dodd-Frank Act provisions, supporters of a private mortgage market should have a strong interest in having the risk retention regulations finalized, according to Sarah Rosen Wartell, a former FHA official in the Clinton Administration.
June 3 -
For less than $200 up front, Bank of America and Morgan Stanley might have saved themselves a combined $22 million, and a whole lot of embarrassment.
June 3 -
A group of strange bedfellows called on mortgage industry regulators to step back from a proposed rule that they say would stifle lending to all but the most well-heeled home buyers.
June 2 -
One chief reason mortgage application volume is slowing and home prices have yet to recover is regulatory “overreaction” in the wake of the housing bust, according to former Federal Home Loan Bank president Alex Pollock.
June 2 -
In yet another borrower dispute of the use of the Mortgage Electronic Registration Systems, a U.S. District court vacated the nonjudicial foreclosure of an Oregon borrower
June 2 -
The chairman of the House Oversight Committee is calling Elizabeth Warren back to the Hill for a second hearing following a dispute with a subcommittee chairman last week.
June 2 -
State regulators this week fined Mortgage Access Corp., an affiliate of realty giant Weichert, $3 million for using unlicensed mortgage originators. The settlement covers 10 states.
June 2 -
A letter signed by 163 congressmen urges federal regulators to loosen the definition of a "qualified residential mortgage," allowing single-family loans with low downpayments and private mortgage insurance to be exempt from pending risk retention rules.
June 1 -
The Department of Housing and Urban Development is charging Mortgage Guaranty Insurance Corp. with violating the Fair Housing Act because its underwriter required a woman return to her job from maternity leave as a condition for approving the application for mortgage insurance.
June 1
