Compliance & Regulation

Sen. Sherrod Brown, D-Ohio, said elevating affordable housing issues, examining the financial system through a climate and racial justice "lens," and holding banks accountable for their impact on consumers will be among his priorities.

The agency that supervises Fannie Mae and Freddie Mac has pushed for revising an agreement with the Treasury Department allowing the mortgage giants to retain their profits. A deal could be out of reach once Joe Biden takes office.

The agency's request for input will shape how mortgages underwritten by Fannie Mae and Freddie Mac handle appraisals and curb risk.

The top Democrats on the House and Senate banking committees urged the Trump administration to pull the plug on any steps to overhaul Fannie Mae and Freddie Mac with the pandemic still taking a toll on the economy.

The proposal would require the government-sponsored enterprises to craft resolution plans similar to regulations imposed on the largest U.S. banks.

The FHA’s deadline was extended as part of its latest renewal of other coronavirus-related contingencies. The move follows a request from state regulators to provide ample notice of the forbearance program’s expiration.

Michael Gramins, who a jury convicted in 2017, was among more than a half-dozen traders charged by federal prosecutors in Connecticut with misrepresenting the prices of mortgage-backed securities to clients in order to increase their firm’s profits and their bonuses.

The company expects a good year ahead for mortgage insurers, assuming that rising employment, higher home prices and payment timing deferrals will help them to mitigate risk.

The agency's rule outlines steps collectors must take to inform consumers about an outstanding debt, and prohibits companies from pursuing lawsuits after a statute of limitations has ended.

The proposal builds on guidance the agency gave to Fannie Mae and Freddie Mac earlier this year.