Compliance & Regulation

The affordable housing market has dried up in major cities across the country. In response, regulators and lenders are looking into new programs to get people back into single-family homes while also exploring ways to encourage multifamily developments.

Law enforcement authorities raided the headquarters of United Mortgage Trust in Grapevine, Texas, on Feb. 18, seeking documents related to the company's management.

With the stakes so high for compliance officers, their rights and responsibilities should be clearly defined, including a safe harbor for those who play by the rules.

The Department of Housing and Urban Development will provide $40 million in grant money to organizations that provide counseling to prospective homebuyers.

The Consumer Financial Protection Bureau acknowledges that gearing up for the Truth in Lending Act/Real Estate Settlement Procedures Act integrated disclosures has been tough, and it promises to consider that fact in exams.

The decision in Yvanova v. New Century Mortgage Corp. has the potential to radically increase the number of lawsuits brought by borrowers, particularly on loans that were pooled into securitized trusts.

Federal Housing Finance Agency Director Mel Watt stopped short of calling for Treasury to recapitalize the government-sponsored enterprises, but said "something needs to be done" before they run out of capital.

Mortgage servicers are actively discussing with regulators how current rules could be streamlined, and future rules could be shaped, to minimize costs and hassles.

A public interest coalition is calling on bank regulators to declare the drinking water contamination in Flint, Mich., a "disaster" and encourage lenders from around the country to extend credit to the area in order to counteract the damage.

The mismatch between demand for new homes and the supply threatens to drive up prices and dampen lending.