Compliance & Regulation

Seven of the largest mortgage servicers say they have trimmed an average of $614 off monthly payments on over 16,000 loans as part of foreclosure prevention required by a regulatory settlement.

Texas, a big market for reverse mortgages, has approved a variation of the product that taps the equity in a senior's home to pay for a new, often smaller, dwelling.

The Federal Reserve Board on Wednesday neared the halfway mark of unwinding its unprecedented bond buying program, reducing its purchases to $45 billion.

Fannie Mae and Freddie Mac could require an additional bailout of as much as $190 billion in a severe economic downturn, according to the results of stress tests released by the regulator for the U.S.-owned companies.

The proposed federal mortgage guarantor in the Senate reform bill needs 5% hard equity to protect taxpayers, but 10% capital to pass Congress, the Housing Policy Council's John Dalton reckons.

Wells Fargo's loans make up around 20% of the pools referenced in credit risk-sharing transactions issued by Fannie Mae and Freddie Mac through March, according to Fitch.

The company is using proprietary automation to support the channel. Jeff Walsh, who formerly was involved in another wholesale startup, heads the new operation.

First Horizon National Corp. is getting closer to putting its mortgage woes behind it.

The future of housing finance reform remains in limbo on Tuesday, after Senate Banking Committee leaders postponed a key vote on legislation to unwind Fannie Mae and Freddie Mac.

The Government Accountability Office urged the Office of the Comptroller of the Currency and Federal Reserve Board to monitor how servicers were carrying out foreclosure prevention steps in amended consent orders.