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Despite complaints from community bankers and some lawmakers about overzealous examiners, Federal Reserve Board Chairman Ben Bernanke on Thursday defended the central bank's examination staff, saying recent analysis suggests they are acting appropriately.
May 10
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The Consumer Financial Protection Bureau has hired Chris Peterson from the University of Utah, adding a formidable critic of mortgage securitization practices and payday lending to the young agency's staff.
May 10
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The Consumer Financial Protection Bureau is considering the use of its special regulatory powers to blunt certain provisions in the Dodd-Frank Act that would ban consumers from paying upfront fees -- such as discount points or origination fees, when the loan officer is being compensated on the back-end by the buyer or table funder.
May 10
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The National Reverse Mortgage Lenders Association has asked a federal regulator to craft a ‘qualified mortgage’ rule specifically for private reverse mortgages.
May 10 -
The Consumer Financial Protection Bureau is expected to unveil a flat free compensation proposal Wednesday night after briefing industry officials on the matter earlier in the day.
May 9 -
A former police officer and his wife began trial yesterday for allegedly causing some $210,000 of damages to their $1 million house after their credit union, San Diego Metropolitan CU, foreclosed on them two years ago.
May 9
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Sen. David Vitter, R-La., is trying to force the Senate to quickly pass a five-year reauthorization of the flood insurance program this week.
May 9 -
Industry vendor CoreLogic has decided to close its appraisal management company in Danvers, Mass.
May 9 -
Some loan officers hate appraisal management companies (AMCs) and heres why: Several megabanks control AMCs through joint ventures and are making huge fee income while paying rank and file appraisers little.
May 9
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The risk of material breach of representations and warranties "should be on the issuer," not the investor.
May 9
