Compliance & Regulation

WASHINGTON — The top Republican and Democratic spots on the House Financial Services Committee will remain unchanged in the new Congress.

The New York unit of Japanese securities firm Nomura Holdings may be three traders short after reportedly placing them on leave, but the firm is said to have muscled away a large auction held yesterday.

Lawyers for the U.S. and Wells Fargo told a judge they doubt they can reach a settlement in a government lawsuit accusing the bank of home-mortgage fraud, a person familiar with the matter said.

The Obama administration is committed to reducing FHA premiums for borrowers who complete the housing counseling program.

A secondary market system "dominated by Fannie and Freddie in conservatorship is simply not desirable," Castro says.

An independent actuarial report showed the Federal Housing Administration's mortgage insurance fund's capital ratio hit 0.41% this year, which is below the earlier estimate of 1.2%.

Plaintiffs advocating for spousal rights in existing Home Equity Conversion Mortgages are renewing their motion for class certification, citing circumstances surrounding two instances of foreclosures under interim government policy.

The U.S. Supreme Court agreed to hear two Bank of America Corp. appeals that seek to give lenders more leverage over homeowners who file for bankruptcy protection.

A fine levied against a relatively small lender shows that capitulating to the demands of staff on matters of lawful loan officer compensation is not a risk worth taking.

With an eye on eliminating mortgage buybacks and adhering to increasing regulatory compliance obligations, mortgage lenders are redoubling their sales training efforts for both rookie and veteran loan officers.