Compliance & Regulation

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.

Other businesses are doing away with them in favor of salaries but originators are reluctant to do the same.

A group of state regulators issued a paper calling on federal regulators to do a better job of exempting small banks from their regulations, including urging the CFPB to provide more exemptions for small banks to its qualified mortgage rule.

With the annual March 1 date looming for federal Home Mortgage Disclosure Act compliance, Texas Dow Employees Credit Union has successfully implemented an automated solution that saves time, money and beats the deadline.

The g-fee changes should encourage further return of private capital to the mortgage market, says Ed Demarco, as the price changes provide better protection of and return to taxpayers who are providing the capital support that keeps these companies operating.

The new division among other things will offer services related to mergers and acquisitions, benchmarking reports, compliance, operational reviews, and leadership, management and organizational strategy.

Nationstar is bringing to market a $154-million-plus residential mortgage-backed securities deal backed by seasoned, nonconforming collateral, according to a Standard & Poor’s presale report.

This is the largest U.S. Countrywide MBS class-action settlement filed on behalf of investors, according to plaintiffs’ lead counsel.

Banks are looking for investments and the guarantee fees for conforming loans keep rising, making the larger loans more appealing.