Compliance & Regulation

Alarmed about continued high nonmarket-based prepayment rates, Ginnie Mae is requesting input from lenders on how to make the mortgage-backed securities it guarantees fairer to investors without hurting borrowers.

With nearly $90 million added in the past two months, Goldman Sachs marched closer to its $1.8 billion consumer-relief mortgage settlement with the U.S. Department of Justice.

The Consumer Financial Protection Bureau proposed steps to ease Home Mortgage Disclosure Act requirements, just days after announcing it was retiring a platform to let users analyze raw mortgage data.

Freddie Mac will keep building on the financial reforms that produced profitability during conservatorship as broader government-sponsored enterprise proposals take shape, according to departing CEO Don Layton.

Recapitalizing the GSEs by cutting off returns to the government would essentially be buying the GSEs from the taxpayers with money that belongs to the taxpayers.

Having poor credit doesn't necessarily keep someone looking to become a mortgage broker from obtaining a surety bond, but it can complicate matters.

The Department of Financial Services has created a statewide financial protection division focused on corporate compliance and consumer issues, in line with steps taken by New Jersey and Pennsylvania.

New licensing rules for mortgage professionals servicing loans secured by New Jersey properties will go into effect this summer, adding to a trend toward tighter state regulation of standalone servicers.

Director Kathy Kraninger said the agency will emphasize a confidential supervisory process instead of just doling out public enforcement actions. But skeptics worry this will let companies escape punishment.

The debt collection proposal is expected to address how debt collectors can use text messages and emails to track down debtors.