Compliance & Regulation

From interest rate movements to new disclosures and vendor management challenges, the recent Regional Conference of Mortgage Bankers Associations touched on myriad hot-button topics the mortgage industry faces this year.

Hoping to deliver relief to Americans pounded by the financial crisis, the government has poured billions of dollars into a sort of Red Cross for homeowners.

There is no guarantee that Fannie Mae and Freddie Mac will remain profitable in the years ahead, raising the possibility of further draws from Treasury, according to a report from the Federal Housing Finance Agency's inspector general.

JPMorgan Chase & Co., the second-largest servicer of U.S. mortgages, is buying the right to handle $45 billion of home loans from Ocwen Financial Corp., according to a person familiar with the transaction.

A new book by the American Enterprise Institute's Peter Wallison reveals how a government push to lower credit standards brought about the housing crisis — and why a new effort to expand homeownership could inadvertently set the stage for a fresh disaster.

Lending groups are demanding the Consumer Financial Protection Bureau take down its mortgage rate calculator, arguing it is providing misleading information to consumers.

But derivatives that magnified their performance woes were the bigger culprit, according to a new book by investor Howard Hill, who created models for collateralized mortgage obligations before the meltdown.

Lloyd's of London and Bankers Insurance Service will now offer errors and omissions insurance for Litigation Guard, an online system which performs compliance checks for non-QM loans.

Nomura Holdings Inc. and Royal Bank of Scotland Group helped fuel a bubble that led to the collapse of the U.S. housing market, an attorney for the Federal Housing Finance Agency said at the opening of a trial over defective mortgage-backed securities.

A recent Supreme Court decision means that one exemption to the Fair Labor Standards Act does not apply to mortgage salespeople, but their employers might still be able to take advantage of other exemptions.