Compliance & Regulation

Two mortgage servicers have agreed to join a group of peer institutions in following a series of guidelines to address zombie properties in New York State, Gov. Andrew Cuomo announced Thursday.

Mortgage professionals brave enough to bring mortgage fraud to light deserve the same level of protections as workers in other businesses, rather than be subjected to a patchwork of laws designed for other industries.

The delinquency rate on loans backed by the value of consumers' homes hit a postcrisis low in the first quarter, according to the American Bankers Association.

The technical glitch that suspended trading on the New York Stock Exchange for much of Wednesday shocked Wall Street, but the one-to-one nature of mortgage-backed securities trades meant the secondary mortgage market was not impaired by the outage.

The Greek debt crisis and China's stock-market crash may put downward pressure on interest rates and delay the Fed's interest rate hike, and they are adding uncertainty at a time when lenders thought recovery would be taking hold.

Borrowing costs for U.S. homebuyers may be falling again, thanks to Greece's woes, but not as much as they could be.

The Federal Housing Administration wants to set a hard deadline for servicers to file claims on soured mortgages. Industry executives say it should be manageable — unless foreclosures surge again.

Nearly 25 years after a landmark deal and two subsequent legislative overhauls, glitches in the credit reporting system remain widespread. But while regulators and law enforcement officials are again raising the stakes for the credit reporting industry, critics fear it may not be enough.

The Supreme Court's recent ruling that the disparate impact theory of liability can be applied to the Fair Housing Act means mortgage lenders must be even more vigilant in their ongoing testing and evaluation of business practices that could be interpreted as even unintentional discrimination.

BOK Financial has hired Glenn Brunker to oversee mortgage operations and manage the bank's transition to a new federally required consolidated mortgage disclosure regime.