Compliance & Regulation

Originating loans secured by condominium apartments or multi-unit properties is similar to the process for single-family properties but their are some important distinctions.

Rep. Gary Miller, R-Calif., introduced legislation Wednesday to curb efforts by the Department of Housing and Urban Development to lower Federal Housing Administration loan limits.

Senate Banking Committee leaders are proposing to capitalize a new mortgage cooperative with a government loan to ensure small and even regional lenders can sell their loans for cash.

The Consumer Financial Protection Bureau plans to address the growing problem of vacant and abandoned properties that banks and mortgage servicers have walked away from to avoid maintaining the homes.

Lenders don't want to make loans outside the Qualified Mortgage rule's tight debt-to-income standard. Young graduates don't want to add to their hefty monthly payments. Net effect: Fewer first-time buyers.

Mortgage bankers welcomed the Johnson-Crapo housing finance reform proposal as a start, but cautioned they had no illusions it will on its own bring private capital back to their industry.

State regulators fined Southeast Mortgage of Georgia $22,500 following allegations that the nonbank lender was doing business with an unlicensed loan originator.

Sens. Tim Johnson, chairman of the Senate Banking Committee, and Mike Crapo, the top Republican, received an overall warm welcome to their agreement on housing finance reform released Tuesday, after months of negotiation.

The upstart mortgage insurer says the deal will open the door to doing business with hundreds of small and midsize lenders that regularly sell loans to the two aggregators.

Hope LoanPort has started new collaborative partnerships with several national organizations to collectively provide foreclosure-related fraud prevention assistance to homeowners.