Compliance & Regulation

Reverse mortgage lender Financial Freedom has agreed to pay $89 million to settle False Claims Act allegations involving unearned interest payments it received from the Federal Housing Administration.

Ocwen Financial Corp. has received a subpoena from the Department of Housing and Urban Development Office of Inspector General regarding force-placed hazard insurance.

As financial institutions look closer at the increasingly detailed consumer credit data available, they are learning consumers are more apt to pay off personal loans before mortgages, auto loans and credit cards.

Treasury Secretary Steven Mnuchin is expected to face tough questions on the OCC, Glass-Steagall and housing finance reform when he testifies on Thursday.

A House Republican bill would allow lax lending standards to creep back into the financial system by gutting the CFPB, according to a letter from 158 law professors and scholars.

Democrats in the House and Senate introduced a bill Tuesday that would get rid of an obscure legislative process that has handcuffed rulemakings from the Consumer Financial Protection Bureau and other regulators.

An El Paso real estate investment trust, run by some of city's most successful business people, faces new allegations of fraud in a failed housing venture just as another lawsuit against the trust has been dismissed by a federal judge.

All post-closing reviews of new Federal Housing Administration-insured mortgages must now use the defect taxonomy, effective immediately.

To address an unintended consequence of the TILA-RESPA integrated disclosures, California regulators are making it easier for lenders to prove compliance with rules limiting interest charges on mortgage closings that take more than one day.

The city joins a growing list of municipalities that have filed similar lawsuits, just two weeks after the Supreme Court ruled that municipalities have standing to sue lenders under the Fair Housing Act.