Compliance & Regulation

At least two mortgage servicers say they are close to being released from an OCC enforcement order that required 14 of the nation’s largest bank servicers to fix flaws in their foreclosure reviews. But the OCC says it has set no timetable for freeing any of the banks from the 2011 order.

Fannie Mae and Freddie Mac are charging excessive loan fees, according to some industry groups, who claim it is time to stop overcharging borrowers who use conventional financing to buy a home.

During a wide-ranging discussion of the economy and regulation, Wells Fargo CEO John Stumpf cited several factors that were harming the housing market. His comments came the same day the White House hosted a meeting on the topic.

A bill introduced in the House Financial Services Committee would eliminate appraisal requirements established by the Dodd-Frank Act for certain higher-risk mortgages when lenders hold the loans in portfolio for at least three years.

Post-crisis developments put a lot of underperforming loans in the hands of a small number of servicers. Increased regulation and the need for specialized skills drove banks out of the business.

California is planning to sell $110 million of veterans general obligation bonds in a competitive offering Thursday.

Banks and mortgage lenders may have received too much relief from loan buybacks, putting taxpayers at greater risk for losses, according to a Federal Housing Finance Agency inspector general's report.

U.S. Bank in Minneapolis will pay nearly $11,500 to a Native American couple in North Dakota to settle a lending-discrimination complaint with the Department of Housing and Urban Development.

In his first major policy speech as the new housing secretary, Julian Castro voiced support for a Senate bill to reform housing finance and said policymakers should "remove the stigma associated with promoting homeownership."

Citigroup Inc., Morgan Stanley and Goldman Sachs Group Inc. are among 13 banks whose units were sued for $1.15 billion by the state of Virginia, over claims they misled its retirement system about the sale of residential mortgage-backed securities.