Compliance & Regulation

Sen. Bob Corker has been a key voice in the housing finance reform debate. His departure at the end of next year puts a deadline of sorts on his efforts to unwind and replace Fannie Mae and Freddie Mac.

Wells Fargo has agreed to "good faith class settlement negotiations" to resolve a lawsuit that alleges the bank was making "stealth" mortgage modifications that could vastly increase homeowners’ borrowing costs, according to a filing Monday in federal bankruptcy court in Charlotte.

Ginnie Mae is giving expanded loan buyout authority to certain issuers in order to help them remove loans affected by Hurricanes Irma and Harvey from securitized mortgage pools.

The former president of a defunct Long Island, N.Y.-based national mortgage lender was sentenced in federal court in Central Islip to three years of probation and ordered to pay $20 million in restitution to taxpayers.

A federal judge awarded treble damages totaling $296 million in a False Claims Act case alleging Texas lender Allied Home Mortgage defrauded the Federal Housing Administration mortgage program.

A Consumer Financial Protection Bureau proposal would limit how much Home Mortgage Disclosure Act data is released to the public in an effort to protect consumer privacy.

Lawmakers like Sen. Tim Scott may feel differently about some elements in a Senate regulatory relief bill depending on whether CFPB Director Cordray is remaining in office until his term expires in July.

Mortgage investors want Freddie Mac to align its policy with Fannie Mae's when it comes to how delinquencies related to Hurricane Harvey affect credit risk transfer deals.

Efforts to persuade regulators to allow Fannie Mae and Freddie Mac to use alternative credit scores would stifle competition between the credit bureaus and FICO and do little to expand access to credit, according to industry analyst Chris Whalen.

Two bills that would boost protections for consumers taking out PACE home-improvement loans are headed to Gov. Jerry Brown’s desk after passing the Legislature.