Compliance & Regulation

How federal regulators fabricated a media narrative with verbal sleights of hand.

PNC also disclosed more details about three subpoenas it received from the U.S. attorney's office in Manhattan related to National City Bank, the Cleveland-based subprime home lender PNC purchased in 2008.

Rules enacted last year appear to be steadily forcing banks to exit the mortgage servicing business, transferring such rights to nonbanks. The situation is stoking fears on Capitol Hill and elsewhere that regulators went too far.

The GSEs reported big profits for 2013 but even the companies' executives question the sustainability of those earnings.

A technical reading of the rule supports excluding charges by a broker's title affiliate from the 3% fee cap. But without a specific interpretation from the CFPB, it would be unwise to risk a loan's QM status.

The demolitions in this Michigan city of about 100,000 people are part of the stepped up efforts by officials in several Midwestern states to rid their blighted neighborhoods of decayed housing that's depressing prices.

Bruce Berkowitz, the money manager battling the U.S. government over the future of Fannie Mae and Freddie Mac, is calling on the boards of the mortgage-finance giants to build capital instead of turning over their profits to Treasury now that they've returned to profitability.

Two of the three major nonbank servicers are sticking by plans to acquire portfolios from banks this year, in spite of regulatory scrutiny and concern they are growing too fast.

Big data will hit its stride when tailored to vertical markets and their specific needs. Mortgage Servicing is an excellent example.

Prospect Mortgage's victory in a court case brought by a loan officer who sued for minimum wage and overtime has been the talk of the industry. Following are comments posted by readers on NationalMortgageNews.com showing the wide range of interpretations of the case.Many loan officers view themselves as independent contractors. Others think W-2 tax classifications by employers are at odds with that view.