Compliance & Regulation

It hasn’t been a good week for the loan brokerage community. On Monday Raj Date, the number two man at the CFPB, in a speech to the American Bankers Association blamed mortgage brokers (more or less) for the housing bust.

Wells Fargo & Co., the nation's largest home lender and issuer/servicer of GNMA loans, is telling its correspondents and brokers that it will only participate in the FHA's new "Streamline" refi program on loans its services.

More than 1.3 million people received assistance from a foreclosure mitigation counseling program.

New York State is seeking to take control of bond insurer Financial Guaranty Insurance Co.

The United States, European Union and Japan may be at risk of failing to adopt global standards that will greatly improve the quality and quantity of capital that banks must hold, according to global regulators on Monday.

In a speech before the American Bankers Association Monday Consumer Financial Protection Bureau deputy director Raj Date slammed loan brokers for causing the mortgage crisis, raising the ire of at least one loan broker trade group, the National Association of Independent Housing Professionals, which is calling for his resignation.

Last time I wrote about some of the better marketing I saw in the past few weeks as I continue to recover from a leg infection. Unfortunately not all advertising I came across was as strong.

Occupy protesters have vowed to return to an empty foreclosed home in south Minneapolis after holding two protests in the past month.

The National Association of Independent Housing Professionals, in a new comment letter to the CFPB asks the agency to exclude all Fannie Mae, Freddie Mac and government mortgages from coverage under proposals that could radically alter how loan officers earn their pay.

Not too many life and homeowners insurance firms are foregoing rate increases and rebating money to their insured.