Compliance & Regulation

Ocwen Financial Corp. agreed to sell servicing rights on a $25 billion portfolio of home loans and said it's out of compliance with New York Stock Exchange listing standards.

In the wake of confusion about the status of pre-approvals, an expert on compliance seeks to clarify, but exhorts the CFPB to do so, officially, "prior to the effective date of the new rule."

Changes to the Consumer Financial Protection Bureau's consumer complaint system could give lenders lots to gripe about if they don't prepare accordingly and be proactive, mortgage industry consulting firm STRATMOR Group said March 23.

A new loan program will allow borrowers to put down even less than the 3% down payment mortgage programs to be offered by Fannie Mae and Freddie Mac. This move and others like it, while laudable, will no doubt ensure increasing default rates.

Citigroup's failure to pay 24,000 people owed money as part of a settlement with the government over foreclosure abuses has prompted Maxine Waters, the senior Democrat on the House Financial Services Committee, to call for an investigation into whether banks missed other borrowers.

The CFPB wants to expand banks' data reporting requirements under the Home Mortgage Disclosure Act. But this would impose even greater costs upon local financial institutions that are already overburdened by regulation.

A U.S. District Court judge has dismissed a challenge to JPMorgan Chase's $13 billion settlement with the Justice Department.

The agency's interpretation of a Respa rule could put an end to the long-standing practice of mortgage lenders paying real estate agents and homebuilders to send business their way.

The Consumer Financial Protection Bureau finalized a contentious policy Thursday allowing customers to describe their banking experiences more fully on the agency's complaint portal.

The U.S. Supreme Court Fair Labor and Standards Ruling will likely revitalize interest from the plaintiffs’ bar regarding FLSA claims against lenders, who continue to struggle with legal compliance on this issue.