Compliance & Regulation

In January, Rep. Randy Neugebauer, R-Tex., will become chairman of a House Financial Services subcommittee where he will conduct extensive oversight hearings on regulatory implementation of the Dodd-Frank Act.

The Department of Housing and Urban Development said it will launch a fair lending investigation into a practice identified by one consumer group as lenders refusing to offer FHA loans to borrowers with low credit scores.

WASHINGTON — In making the Rural Housing Service self-funding, Congress estimated the agency could guarantee $24 billion of single-family loans under the new premium structure — a huge jump in exposure from two years ago when it backed just $6.9 billion.

Rep. Spencer Bachus (R-Ala.) was approved by the Republican conference Wednesday to become chairman of the Financial Services Committee next year.

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.