Compliance & Regulation

Oversight of the four largest mortgage servicers' compliance with the national mortgage settlement is officially over, the watchdog overseeing the process said Thursday.

The agency that insures government loan securitizations could use some more subservicers because it is concerned that so much of its issuance gets outsourced to a small number of players.

Whether it's an intentional bait-and-switch or a misunderstanding on the originator's part about compliance requirements, here are seven things lenders should be careful not to misrepresent when communicating with borrowers.

Bankers are still grappling with vendor software problems, longer processing times and delays in mortgage closings as a result of new disclosures that went into effect four months ago, according to a new survey by the American Bankers Association.

The Consumer Financial Protection Bureau should provide independent mortgage lenders with clear guidance on how to comply with rules and confirm that good-faith compliance with the bureau's directives will not result in enforcement actions and financial penalties

The mortgage servicer said it has received a letter from the Securities and Exchange Commission regarding its fees for handling distressed loans and properties.

Warehouse lenders dramatically expanded the amount of credit they were willing to extend in 2015, accommodating a noted increase in originator demand, according to The Reynolds Group's annual warehouse lending survey.

First Federal Bank of Kansas City has agreed to a $2.8 million settlement with the Department of Housing and Urban Development to resolve allegations of redlining in African-American neighborhoods.

New services seek to replace lender processes that often involve manually updated spreadsheets and other efforts pieced together to meet steepening regulatory requirements for vendor management.

After imposing a virtual moratorium on adding new issuers, Ginnie Mae is again accepting applications from mortgage companies seeking to pool loans for securitization and servicing.