Compliance & Regulation

The Supreme Court agreed last month to resolve a stark divide in the United State Courts of Appeals regarding the time bar for residential mortgage borrowers to file suits related to mortgage loan rescissions under the Truth in Lending Act.

Further lender-placed insurance reform is part of new Federal Housing Finance Agency Director Mel Watt's strategic plan, likely shifting the balance between business and borrower interests back toward consumers.

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.