Compliance & Regulation

The Senate Banking Committee will hold two hearings at the end of March on Chairman Mike Crapo’s most recent framework for housing finance reform.

Fewer Hawaii property owners fell into foreclosure last year in continuation of a trend that began in 2014, according to state data.

The 2020 presidential hopeful removed the contentious provision from a previous version of the bill that had won praise from bankers but sparked fierce opposition from credit unions.

Just minutes after his federal prison sentence was raised, Paul Manafort was charged by New York state prosecutors with residential mortgage fraud, conspiracy and falsifying business records.

In remarks to credit unions, the Senate Banking Committee Chairman said that fixing the government-sponsored enterprises and data security were priorities.

While the OCC has led the charge on modernizing the Community Reinvestment Act, Gov. Lael Brainard gave a rundown of new ideas under discussion — from updating assessment boundaries to a comprehensive community development test.

American Banker and National Mortgage News are offering an exclusive discussion of how policymakers may revamp Fannie Mae and Freddie Mac and what that will mean for mortgage lenders of all sizes.

The 2020 budget would add the Consumer Financial Protection Bureau and FSOC to congressional appropriations, charge lenders for FHA upgrades and require universities to have skin in the game on student loans.

Wells Fargo CEO Tim Sloan said that the megabank has worked to address past issues and is equally committed to preventing new problems from arising, despite reports suggesting otherwise.

Mark Calabria, who could be confirmed as early as this month, is expected to focus on changes to Fannie Mae and Freddie Mac’s conservatorships to let the mortgage giants keep more of their profits.