Compliance & Regulation

Only Minnesota’s giant Mall of America draws more visitors than the Aventura, Fla.-based shopping center that backs the collateral interests in the more than $1 billion commercial mortgage-backed securitization.

Often one of the biggest obstacles to a refi has been the need for a subordination agreement from a junior lien holder.

This supports other bright lines many lenders have been interesting in adopting in terms of loan size and loan programs.

The city of Los Angeles is seeking damages for reduced property tax revenue and the costs of maintaining foreclosed properties, the complaint says.

This rule allows the CFPB examiners an easy way to trace the funds without having to dig through papers.

A lawsuit has been filed questioning the Federal Housing Finance Agency’s decision to block municipalities from using eminent domain to modify a distressed borrower’s mortgage and prevent foreclosures.

The City Council unanimously approved a plan to make market-value offers on toxic loans and reissue them to homeowners.

There is no place on the new loan estimate and closing disclosure for disclosing lender-paid compensation, says Don Frommeyer, president of the National Association of Mortgage Brokers. Thus the form might not be appropriate for mortgage brokers to use. Several readers commented on Frommeyer’s statement.

Changes may come after lenders have implemented and adjusted to the ability-to-repay rules.