Compliance & Regulation

The Consumer Financial Protection Bureau has ruled that seller points can be excluded from the 3% points and fees test in the qualified mortgage rule.

The Consumer Financial Protection Bureau has removed some obstacles to community banks offering balloon mortgages in rural areas, but the exemption in the qualified mortgage rule should be expanded further.

The scheme allegedly has victimized more than a thousand homeowners, who have paid in excess of $3.4 million.

The Federal Deposit Insurance Corp. has filed more lawsuits against the directors and officers of failed financial institutions in 2013 than in any year since the recession.

The new president of the California Association of Mortgage Professionals also is planning a marketing and image campaign for the industry.

Comptroller of the Currency Thomas Curry strongly supported an accounting proposal on Monday that may force banks to increase reserves based on predictions of credit losses in addition to looking at past performance.

We're hearing that a rising tide of new construction doesn’t have lenders worrying about a bubble in apartment building values...yet.

The estate for U.S. Mortgage Corp. and its CU National Mortgage subsidiary paid 26 credit unions and Fannie Mae an initial distribution of $8 million last week.

The Chicago Federal Home Loan Bank seems to be continually looking for ways to expand its mortgage conduit program so member banks, thrifts and credit unions will have broader access to the secondary market.

Former Rep. Barney Frank criticized regulators' latest effort to craft an exemption for proposed risk retention requirements, warning it was overly broad.