Compliance & Regulation

The residential lending arm of a Dallas bank agreed to pay $2 million to settle federal allegations that it discriminated against blacks, charging them higher interest rates than whites.

How bad is the real estate market in Florida? More than 30,000 mortgage industry professionals appear to be missing in action.

The Federal Housing Administration implemented its 'short' refinancing program in September and since then Obama Administration officials have anxiously been waiting for the GSE regulator to give Fannie Mae and Freddie Mac the green light to use the new principal reduction program as an option.

A borrower who goes through a foreclosure must wait at least seven years before getting a new Fannie Mae loan, according to new underwriting guidelines that are being distributed along with an updated version of the GSE's Desktop Underwriter program.

Consumer advocates are once again calling for stricter oversight of the reverse mortgage business, with one declaring the product should only be used as a last resort.

The National Community Reinvestment Coalition has filed fair lending complaints against 22 lenders for allegedly requiring high credit scores on Federal Housing Administration-insured loans and refusing to extend credit to qualified borrowers.

Rep. Spencer Bachus was formally selected by the Republican Steering Committee on Tuesday to serve as chairman of the House Financial Services Committee next year, beating back a challenge from Rep. Ed Royce, R-Calif.

A new business process management software creates rules and checklists for servicers to ensure the cases they take to foreclosure meet compliance guidelines—technology that developer Pegasystems says protects servicers and lien holders from faulty foreclosure processes and speeds up the time it takes a property to transfer to real estate owned status.

The Rural Housing Service is tightening its indemnification policies to improve compliance with its lending guidelines.

The National Community Reinvestment Coalition plans on challenging the policy of certain lenders that require higher credit scores on Federal Housing Administration-insured loans than the agency itself requires.