Compliance & Regulation

Lenders that sell loans to Fannie Mae and Freddie Mac will be responsible for determining their compliance with the qualified mortgage rule issued by the Consumer Financial Protection Bureau.

JPMorgan and Assured reached an agreement resolving the claims this month, according to a filing with the Securities and Exchange Commission dated Aug. 9.

The National Community Reinvestment Coalition unveiled a new white paper that outlines two alternative proposals for integrating affordable housing into the larger mortgage finance reform debate.

Best practices will have big implications for the industry going forward.

The Federal Deposit Insurance Corp. has scheduled a board of directors meeting next week to act on the proposal, which is also known as the qualified mortgage rule.

Examiners from the Consumer Financial Protection Bureau discovered that some nonbank servicers don’t have effective compliance management systems to ensure they are following federal consumer protection laws.

Sen. Elizabeth Warren is pressuring the Department of Justice for more details related to payments made to the Federal Housing Administration as part of the $25 billion mortgage servicing settlement.

Treasury 10-year notes fell on Wednesday after minutes of the Federal Reserve’s July meeting showed policy makers were “broadly comfortable” with a plan to curtail bond purchases.

It is important for borrowers to shop around and find out whether an adjustable or fixed rate mortgage best fits their needs.