Compliance & Regulation

Increased overhead to support back-office compliance is driving up origination expenses to the point that mortgage bankers lost nine basis points on the loan origination function during the first quarter, preliminary Mortgage Bankers Association data show.

Congressional inaction on debt forgiveness provision leads to more foreclosures.

New York regulator Benjamin Lawksy plans to eliminate several layers of review for mortgage bankers to apply for a license or a new branch location, and to expand an investigation into the affiliated businesses of nonbank servicers.

Citi's move may bring much-needed liquidity to a segment of the mortgage market that most of the big banks, with the exception of Wells Fargo, abandoned in the aftermath of the crisis.

New York Attorney General Eric Schneiderman renewed calls for the state legislature to address the problem of "zombie properties," or foreclosed homes that banks have walked away from to avoid the cost of maintenance.

Freddie Mac has long struggled to compete with larger rival Fannie Mae because the former's mortgage-backed securities trade at a discount to the latter's. Their new regulator may change that.

Last month, BMO Harris Bank changed policies on auto lending to pay a flat percentage of the loan amount to auto dealers making loans (sound familiar?).

Regulators' recent moves to encourage mortgage lenders to relax standards have reignited a contentious debate.

The mortgage life support provided by the federal government since the crash is ebbing. It will be interesting to see if the industry can breathe on its own now.

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