Compliance & Regulation

An appeals court has overturned the previous dismissal of a case involving the rights of surviving, non-borrowing spouses of Home Equity Conversion Mortgage borrowers.

NCUA has opened a new battle with Wall Street by filing a new suit over the sale of faulty mortgage-backed securities to the failed corporates.

Federal bank regulators have reached an agreement with 10 of the 14 banks conducting independent foreclosure reviews.

The congressional playbook for the new year is a familiar one, as lawmakers will continue to oversee implementation of the Dodd-Frank reform law and possibly begin to make inroads on housing finance reform.

Bank of America has entered into a $10.3 billion settlement with Fannie Mae to resolve repurchase issues involving nearly $300 billion in mortgages that B of A and Countrywide sold to the GSE from 2000 through 2008.

The era of increasingly cheap money that fueled the housing recovery and record home-lending profits is showing signs of ending in the mortgage bond market.

Several trade groups are pressing the GSE regulator to halt Fannie Mae’s secretive initiative to reduce the cost of force-placed insurance and replace it with a process that is more transparent and less disruptive to servicers.

Banks are pushing the U.S. Consumer Financial Protection Bureau to give them a year to comply with new mortgage underwriting rules that could be released as early as this week.

A federal appeals court revived a lawsuit accusing the Department of Housing and Urban Development of setting up its reverse-mortgage program in a way that makes it more likely a surviving spouse will end up in foreclosure.

For the past year, Federal Reserve governors and bank presidents have complained about how long it takes lenders to process mortgage applications.