Compliance & Regulation

Wells Fargo has stopped offering most customers the interest-only version of its home-equity line of credit.

Fannie Mae and Freddie Mac were sued by Massachusetts for allegedly failing to comply with a state law that lets nonprofit organizations buy foreclosed homes to sell them back to their former homeowners.

NBT Bancorp in Norwich, N.Y., has prepaid about $165 million in long-term borrowings from the Federal Home Loan Bank.

Real Estate Settlement Procedure Act violations cited in a recent Consumer Financial Protection Bureau action suggest the technical compliance required rises in line with the aggressiveness of past or present marketing.

More than 40% of the 2 million recently modified mortgages facing interest-rate resets are underwater, according to Black Knight Financial Services data.

Lenders are doing a much better job closing the loan applications they are getting, and they are doing so in a shorter period of time. Tight credit has not increased the risk that a loan will fail to close.

Now that Congress has rolled back steep increases in flood insurance premiums, lawmakers and housing interests are on the Federal Emergency Management Agency's case to avoid another bungle.

The City of Los Angeles accused JPMorgan Chase of targeting minority borrowers with predatory loans in a lawsuit filed two days after Wells Fargo lost a court bid to dismiss a similar case.

As regulations reshape the reverse mortgage, lenders hope to end up with a safer, more reputable product. Meantime, the changes are turning the economics of this business on its head.

The city of Providence, R.I., has sued Santander Bank alleging that bank violated the Fair Housing Act by refusing to make prime mortgage loans available in minority communities.