Compliance & Regulation

Lower volumes and increased regulation are leading more lenders to consider outsourcing. But the savings and compliance improvements must outweigh increased liability for contractors and a rise in offshore prices.

Once written off as an endangered species, nonbank home lenders are making a comeback in the third-party origination businesses abandoned by banks since the financial crisis.

Here is a list of 18 items loan officers should consider when talking with their current or future employers, including who owns the database.

The rapid growth and increasing regulatory scrutiny of nonbank mortgage servicers could "severely" affect the whole industry, Mortgage Bankers Association Chairman-Elect Bill Cosgrove says.

The volume of complaints lodged by distressed borrowers to four of the largest U.S. banks has stabilized, the monitor for the national mortgage settlement says.

"Servicers now face compensatory fees, not for mistakes or unreasonable delays, but simply as the cost of doing business," Mortgage Bankers Association President David Stevens says.

Steven Antonakes, the CFPB's deputy director, gave a speech which indicated the agency has shifted to a hard-line stance regarding compliance with a new mortgage servicing rule that went into effect last month. 'Business as usual has ended in the mortgage servicing industry,' he said.

The largest U.S. bank's apartment loan business is mushrooming, aided by Fannie Mae and Freddie Mac retrenching. Now JPMorgan is refocusing on a market where, surprisingly, it lags: New York.

The company, started in 2010 after the mortgage crisis, wrote $4.5 billion of new insurance in the fourth quarter, only about $400 million less than market veteran Genworth.

The new master policy rules affects the relationship with the mortgage lender.