Compliance & Regulation

With the 2010 elections close at hand, Democrats are at risk of losing their No. 2 lawmaker on the House Financial Services Committee.

Mortgage brokers may be flustered by new rules limiting how much they can make on loans, but the restrictions might be a positive for all residential lenders overall.

The HUD Inspector General's office, in a new report, slams Webster Bank, Waterbury, Conn., for some of its FHA underwriting practices, saying the deficiencies could cost the government insurer upwards of $500,000 on six loans.

A new trade group that caters to the 'hard money' segment of the mortgage industry has drafted a code of ethics for its members — lenders that are privately held and cater to borrowers who can't get credit elsewhere.

The Mortgage Bankers Association is asking the Federal Housing Finance Agency to assure lenders that their servicing contracts with the GSEs will not be repudiated in the event of their liquidation by the government.

Steve Archambault, Democratic candidate for Attorney General recently unveiled a six point plan to combat mortgage fraud and protect Rhode Island consumers.

Once upon a time there was a rug merchant who saw that his most beautiful carpet had a large bump in its center. He stepped on the bump to flatten it out—and succeeded. But the bump reappeared in a new spot not far away.

Though Democrats scored a big political victory in passing regulatory reform, many are already paying for it as the financial services industry directs more of its contributions toward Republicans and moderates who tried to pare back the revamp.

The Federal Housing Administration Tuesday morning officially launched a new refinancing program to aid underwater borrowers, allowing lenders to write a new government-backed mortgage where up to 10% of the original loan amount will be forgiven.

The speculation over whether Harvard professor Elizabeth Warren will be nominated as director of the Consumer Financial Protection Bureau refuses to die.