Compliance & Regulation

Consumer Financial Protection Bureau Director Richard Cordray sent a four-page response to Sen. Bob Corker, R-Tenn., about new mortgage disclosures but fell short of providing any new official guidance to address industry concerns.

A recently enacted requirement from the Securities and Exchange Commission places liability for collateral assets within securitization trust funds squarely on the shoulders of a depositor's chief executive, prompting calls for more extensive due diligence procedures.

Large lenders are pushing the Federal Housing Administration to revamp its loan defect taxonomy to provide more certainty about potential errors and mistakes that could lead to enforcement actions.

The monitor of the Bank of America Mortgage Settlement distributed roughly $89 million Tuesday to legal assistance groups in nine states from a fund for federal tax assistance.

Technology startups diving into mortgage lending are doing a lot of things well … except servicing, warned a mortgage industry consultant who has advised them.

Borrowers continue to get smarter about the mortgage process, but from questions about closing costs to the minimum down payment and credit score needed to qualify, there's still a lot that can keep consumers confused during the origination process, or worse, on the sidelines of the market entirely.

The courts would not be getting involved in defining the reach of the Consumer Financial Protection Bureau if the architects of the agency had instituted a commission to oversee it.

The Department of Housing and Urban Development said Friday that an agreement was reached between Fidelity Bank and the Fair Housing Project of North Carolina Legal Aid.

Senate appropriators approved $13 million in new funding to update the Federal Housing Administration's "outdated and unautomated" information technology systems, but rejected President Obama's proposed way of paying for it.

The Consumer Financial Protection Bureau is expected to finalize its second round of mortgage servicing rules in July, a top agency official said. Laurie Maggiano, a program manager for servicing and secondary markets at the CFPB, also offered insights into the bureau's long-anticipated rulemaking on debt collection.