Compliance & Regulation

The CFPB last week made news by publicly recognizing that borrowers felt overwhelmed in regard to the closing process.

Sens. Sherrod Brown, D-Ohio, and David Vitter, R-La., filed a handful of "too big to fail" amendments Friday to a pending Senate Banking Committee bill to overhaul the housing finance market.

Senate Banking Committee leaders want to win as much support as possible for their housing finance reform legislation before a panel vote on Tuesday, but it's possible that a failure to win over certain members could ultimately assist their cause.

The "5/5" attempts to give consumers more certainty about what they will owe in future years, splitting the difference between traditional ARMs and the more expensive, but lower-risk, fixed-rate mortgage.

There are increasing voices in and out of the Federal Reserve proclaiming the need for more inflation in order to pull the U.S. economy out of its current, sluggish growth cycle.

U.S. prosecutors are seeking more than $13 billion from Bank of America to resolve federal and state investigations of the lender’s sale of bonds backed by home loans in the run-up to the 2008 financial crisis.

Law enforcement agencies are contacting state licensing agencies if someone who is regulated has gotten arrested.

The Senate Banking Committee is scheduled to proceed Tuesday with a highly anticipated vote on a bill to overhaul the housing finance market.

Rep. Elijah Cummings, D-Md., is urging the House Committee on Oversight and Reform to investigate why regulators abruptly ended the independent foreclosure review and settled with banks last year.

A key point of contention is the 10 basis point user fee that the proposed Federal Mortgage Insurance Corp. would charge to support affordable housing efforts.