Compliance & Regulation

Ending the Making Home Affordable Program would increase avoidable foreclosures and put the fragile housing market in worse shape, the program's director told an audience at the SourceMedia Mortgage Servicing Conference Tuesday.

Richard Neiman believes regulators may step in and provide guidance to mortgage servicers on their use of the Mortgage Electronic Registration Systems.

A U.S. Appeals Court in Washington late Tuesday night lifted a stay halting the Federal Reserve's controversial loan officer compensation rule, saying the plaintiffs in the case – two broker trade groups – did not "satisfy the stringent" requirements required to continue that stay.

A U.S. Appeals Court in Washington late Tuesday night lifted a stay halting the Federal Reserve’s loan officer compensation rule, saying the plaintiffs in the case – two broker trade groups – did not “satisfy the stringent” requirements required to continue that stay.

New research shows that only one-fifth of loans the GSEs purchase would meet the regulators’ definition for “qualified residential mortgages” and would be exempt from the 5% risk retention requirement in the Dodd-Frank Act.

The FHA has critical lending programs for homebuyers, particularly first-timers, but will have to stop endorsing new mortgages if Congress cannot agree on a budget deal with the White House by midnight Friday and the federal government is forced to shutdown.

For thrifts that have long harbored ambitions of converting to commercial banks, an upcoming regulatory merger is forcing hard decisions.

Two broker trade groups filed their arguments in an appellate court Tuesday morning, hoping to stop the Federal Reserve Board's controversial rule on how loan officers are paid. A decision could come by close of day.

The number of completed foreclosures fell by nearly 50% from the third to the fourth quarters as servicers came under pressure from state and federal regulators to correct their foreclosures processes and agree to a civil settlement.

Elizabeth Warren, the Obama administration official in charge of setting up the Consumer Financial Protection Bureau, again defended her role in a pending settlement between several state and federal agencies and the top 5 mortgage servicers.