Compliance & Regulation

If the underwriters' option is exercised, proceeds will bring in $112 million instead of a possible $176 million.

Leadership from those entities confirmed this week that they will move forward with a plan to add a controversial 50-basis-point charge for refinancing.

The agency confirmed that loans backed by Fannie Mae and Freddie Mac can continue avoiding debt-to-income limits as the bureau completes a revamp of the Qualified Mortgage standard.

While using the 30-day SOFR as its index, Freddie Mac structured the deal so it could shift to a one-month term if and when that rate is approved.

The CEO of SWBC Mortgage discusses her top priorities for the Mortgage Bankers Association, the election, the CFPB's seasoned QM proposal and what to expect at this week's conference.

For many borrowers who might have qualified for conventional financing before the pandemic, non-QM loans are the only path forward toward homeownership.

Mortgage companies contended with an average of 1,316 fraud attempts per month in 2020, up from 1,280 in the previous year, according to the latest study by LexisNexis Risk Solutions.

The agreement with Florida ends the saga that began in April 2017, when several states sued the company. However, the CFPB's case filed at the same time remains active.

CEO Charlie Scharf disappointed investors by failing to provide either a detailed road map for long-term expense reductions or say when he might release such a plan.

The pandemic has exacerbated delays and inefficiencies in loan manufacturing, while adding to security risks.