Compliance & Regulation

Independent lenders rebut suggestions that they pose a greater risk to FHA (and hence taxpayers) than the large banks.

Congress should take the interests of small and midsized mortgage lenders into account as it weighs regulatory reform for community banks. Exempting smaller lenders from random CFPB audits would be a good start.

Burlingame, Calif.-based mortgage compliance service ComplianceEase has acquired Mortgage Banking Systems of McLean, Va.

The complexity in proving whether a loan officer is "outside" has caused many employers to abandon the classification - a move both unwise and unnecessary.

The shift in market composition is fueling concerns that if defaults rise, the Federal Housing Administration would have a harder time making lenders eat the losses on poorly underwritten loans.

While arrangements to finance MSRs may represent the cheapest way to address liquidity, other avenues of adding cash may be available and necessary.

Clayton Homes, the manufactured-housing business owned by Warren Buffett's Berkshire Hathaway Inc., uses aggressive sales and lending practices that traps some borrowers in homes that are difficult to resell, the Seattle Times reported.

Holders of servicing rights will soon demand more than the basics from these third-party providers. Subservicers may be expected to help promote an institution's nonmortgage products or provide portfolio analytics.

Chase has provided more than $2.2 billion of the $4 billion it owes in consumer relief credit, according to the monitor of JPMorgan Chase's settlement.

The mortgage and title industries are creating training programs to teach those in the home sales process this is not just a swapping out of two forms for new ones.