Compliance & Regulation

The question most people seem to be asking is whether the flat origination fee proposal is going to become law. While I do not have a crystal ball, here is my take on it: The CFPB will certainly err in favor of certain consumer groups over the industry, but won't do so when there is little to gain.

The Federal Reserve Board unanimously approved the release of a set of proposals that would raise banks' minimum capital requirement to 7%.

Fannie Mae is moving closer to launching a pilot program to dispose of some of its nonperforming residential loans.

Mortgage investors, who have been complaining for months about the costs they will bear under the national servicing settlement, presented a list of proposed remedies at a congressional hearing.

According to the DOJ’s investigation, SunTrust violated the Fair Housing Act and Equal Credit Opportunity Act by charging more than 20,000 African American and Hispanic borrowers higher fees and interest rates based on their race and not on borrower risk.

New figures compiled by the National Mortgage Licensing System show a wide difference between the operations of state-licensed mortgage companies and depository mortgage lenders.

Multiplying federal and state regulation has triggered the issuance of new rules and requirements further down the chain at the local level and is pressuring mortgage banks to find new ways to stay in compliance.

Is the Consumer Financial Protection Bureau lost when it comes to reengineering how loan officers and brokers can make a living? The words “confused” and “disorganized” are being used to describe the agency’s recent meetings with 17 professionals representing the “small” lending part of the industry.

The Consumer Financial Protection Bureau on Thursday will hold a second conference within two days with 17 small lender participants who are slated to give the agency commentary regarding its controversial mortgage compensation rule.

New technology and approaches are making automated valuation models more accurate.