Compliance & Regulation

A heightened focus on due diligence and loan file reviews has made it imperative for lenders to incorporate quality control technology and processes that can minimize repurchase risks.

A Washington research executive at Keefe Bruyette & Woods believes GSE reform may move quicker if Obama gets reelected, but not by much.

Comptroller of the Currency Thomas Curry said the agency recognizes that some aspects of the provisions pertaining to mortgages could impose a serious burden on community banks and thrifts.

Housing advocates Bob Gnaizda and John Hope Bryant are pitching the Dignity Mortgage, a loan that could be made to nonprime borrowers with built-in protections and incentives for both borrowers and lenders.

The Consumer Financial Protection Bureau will supervise debt collection companies, a move that marks the second time it has asserted its authority under Dodd-Frank to oversee large nonbanks outside the direct lending sphere.

One servicing executive tracking the deal said Nationstar is favored to win the bid.

A plan to extend the corporate bond transparency system to mortgage-backed securities is moving forward.

Aside from those potentially game-changing rules, banks are also facing higher guarantee fees by Fannie Mae and Freddie Mac and higher premiums for Federal Housing Administration loans.

The amount of capital required of depositories to hold residential mortgage servicing rights would jump to 28% under Basel III proposals from 17.2% today.

Bankers and mortgage lenders have become increasingly concerned about the fiscal cliff, an automatic trigger of steep budget cuts and tax hikes that would go into effect in early 2013 if Congress does not act.