Compliance & Regulation

Lenders should not get so desperate chasing volume by originating lower credit non-qualified mortgage products that they are inviting the next regulatory crackdown, said David Stevens, the Mortgage Bankers Association's CEO.

The new request for information is the 10^th in the series that is part of acting Director Mick Mulvaney’s “call for evidence” to assess the CFPB’s overall effectiveness.

One purpose of the Senate bill was for small banks to rein in skyrocketing costs, but some bankers question whether the changes will save them money, and adapting to the reforms may even increase spending.

After several years of preparation, Fannie Mae and Freddie Mac will start issuing a new, common mortgage-backed security starting June 3, 2019, the Federal Housing Finance Agency said Wednesday.

A Department of Labor pilot program will let mortgage lenders and other businesses resolve wage and hour liabilities without exposing themselves to additional Fair Labor Standards Act risks.

The biggest legacy of the current regulatory relief effort may be the increasing focus on whether organizing banks in supervisory buckets by asset size makes sense. Yet the bill deals with just one of the two big asset thresholds in the law.

A new settlement with Massachusetts resolves all outstanding administrative actions against Ocwen Financial Corp. by a group of 30 states, but two states' legal actions against the servicer remain outstanding.

News that the GSEs need an infusion from Treasury to cover quarterly losses underscores problems with the government’s 2012 decision to “sweep” the housing giants’ profits.

Senate Democrats accused Housing and Urban Development Secretary Ben Carson and his agency of failing to enforce fair housing laws.

The information collection effort is consistent with acting CFPB Director Mick Mulvaney's efforts to set the agency on a more pro-industry, anti-enforcement course.