Compliance & Regulation

Suffolk Bancorp said increased oversight of commercial real estate contributed to — and may have accelerated — its decision to sell to People's United. Other banks could make a similar choice.

The deadline has arrived for mandatory submissions to the Federal Housing Administration's Electronic Appraisal Delivery portal, but as many as one-third of lenders that originate FHA-insured mortgages have yet to use the new system.

The market gyrations following the United Kingdom's vote to leave the European Union have an upside for mortgage lenders, as already-falling interest rates are expected to boost home purchases and refinancing.

Ten banks have invested a total of $25 million in the fund, which buys up mortgage-backed securities tied to loans made for the development or rehabilitation of affordable single- and multi-family homes.

Steve Victor, a 33-year-old IT contractor from London, says he's pulling out of the purchase of a new four-bedroom home in the town of Bedford after Britain voted to leave the European Union.

The U.S. government's decision to take all profits from Fannie Mae and Freddie Mac was the right thing to do even in light of the companies' subsequent return to profitability, a former Treasury Department official said..

Ocwen Financial Corp. has agreed to a $30 million settlement in two lawsuits alleging that the West Palm Beach, Fla.-based company violated the False Claims Act.

Mortgage servicers have failed to make significant investments in technology and compliance systems, resulting in substantial harm to consumers, according to a report issued Wednesday by the Consumer Financial Protection Bureau.

Industry and consumer groups are calling on the Federal Housing Finance Agency to reduce the loan fees that homebuyers have to pay on Fannie Mae and Freddie Mac guaranteed mortgage loans.

The ultimate approval of the CIT-OneWest merger by regulators represents a giant step backwards for the Community Reinvestment Act.