Compliance & Regulation

The outcome of a case testing the president's power to fire a CFPB director will come too late to impact Richard Cordray, but may affect President Trump's interim and final picks to lead the agency.

Clearinghouse CDFI will use funds from the $2 million investment to support affordable-housing and economic development projects in communities and Native American reservations in California, Nevada and Arizona.

The White House and congressional GOP leaders are eyeing a tight window between tax reform passage and the 2018 midterms to pass housing finance reform. And with key policymakers readying their exit, the effort could be the most concerted push yet.

Closing mortgages more quickly could introduce efficiencies but it also could introduce fraud risks if done without strong identity verification procedures in place, LexisNexis Risk Solutions finds.

A new Republican director of the Consumer Financial Protection Bureau is likely to take immediate action to change certain rules, including the "qualified mortgage" and payday rules, while curbing pending enforcement actions that are considered too harsh on financial firms.

The resignation of CFPB Director Richard Cordray gives President Trump the chance to name a director who could roll back agency rules and supervisory policies.

The J.G. Wentworth Co.'s financial results improved in the third quarter, due in part to an increase in mortgage originations, but it continued to operate at a loss.

The regulatory relief bill would raise the SIFI threshold to $250 billion of assets and allow mortgages held in portfolio to be counted as "qualified," among other items, but it is far less sweeping than institutions had hoped.

A real estate agent allegedly duped two home buyers into thinking they had purchased a Boynton Beach, Fla., residence but instead pocketed their down payment and monthly payments, according to an arrest report.

Lenders holding a majority share in The J.G. Wentworth Co. agreed late last week to restructure and deleverage the embattled company as its operations stabilize and its mortgage unit grows.