Compliance & Regulation

Some industry observers believe a CFPB pilot program may do what technology advances and e-commerce advocates have failed to accomplish for more than a decade: spark widespread adoption of e-closings.

Is the regulator is looking to ban this channel or providing a road map to lenders on how to do things properly?

Industry veteran David Applegate will serve as CEO of Common Securitization Solutions LLC, the new firm co-owned by Fannie Mae and Freddie Mac to develop a common securitization platform for the mortgage secondary market.

During the past week, consumer and industry groups have lobbied the agency in different directions, with consumer groups arguing the agency did not go far enough and lenders saying it went too far in seeking more data from lenders.

Mortgage aggregators that paid billions of dollars in fines over faulty loans may soon play a new role: plaintiffs in their own lawsuits against originators.

Bill Cosgrove intends to make the return of the first-time homebuyer his primary focus as the new chairman of the Mortgage Bankers Association.

Although this is a benefit to lenders who make a mistake in calculating points and fees, it does not address problems associated with a lack of clarity in the rules.

Outsourcing of labor amongst mortgage servicers may cause problems for the private-label residential mortgage-backed securities market, according to Fitch Ratings.

Lenders could face tougher enforcement and higher penalties if they make errors on the new mortgage disclosure forms that are slated to go in effect next August.

Federal Housing Finance Agency Director Mel Watt has struck a conciliatory tone, seeking lenders' input and making loan-buyback rules more industry-friendly — a clear signal the administration thinks it needs bankers' help to reignite the tepid housing recovery.