Compliance & Regulation

The luxury builder has commitments from two banks to buy non-QM loans.

The North Carolina Democrat will be the first confirmed director of the FHFA in five years.

Violations related to third-party providers such as appraisal management companies can lead the Office of the Comptroller of the Currency to pursue enforcement actions and assess special fees against lenders.

The Midwest bank was fully reserved to cover the costs.

Gov. Andrew Cuomo is proposing regulations that expand mortgage relief options available to homeowners who owe more than the current market value of their homes and share benefits with investors.

Standard & Poor’s expects the credit quality of new issue commercial mortgage bonds to deteriorate in 2014 as the result of increased competition among lenders.

New ability to repay/qualified mortgage rules and other regulations going into effect next year will present additional risks for the industry. Excerpts from this recent NMN/American Banker/PaymentsSource webinar highlight some key ones.

The bank reduces servicing expenses by $1 billion per quarter.

Among the products being dropped are 95% loan-to-value ratio mortgages and loans for borrowers with low-to-mid range credit scores.

More than 1,800 financially distressed homeowners lost a total of at least $12 million in fees they paid the Rodis Law Group and America’s Law Group.