Compliance & Regulation

What are the most successful private companies operating in various financial markets including the mortgage space doing to prosper in 2012? Input from hundreds of Inc. 500 CEOs who have maintained above-average growth and profitability during tough economic conditions indicates there are six areas of focus that they considered key to their company's success.

At the urging of several trade groups, the Consumer Financial Protection Bureau has decided not to prohibit mortgage companies from using profits to make contributions to their loan officers' 401(k) plans.

Democrats on the Senate Banking Committee are urging the Federal Housing Finance Agency to take more aggressive steps to allow refinancing by homeowners with Fannie Mae and Freddie Mac mortgages.

The Federal Reserve Board on Monday sought to clarify a chief requirement that, if met, would result in a nonbank financial company falling under the central bank's supervision.

The Federal Housing Administration has made a last-minute attempt to soften new underwriting guidelines that penalized borrowers with ongoing credit disputes.

The Consumer Financial Protection Bureau issued a bulletin Monday clarifying on an interim basis how compensation rules apply to qualified profit sharing, 401(k) and employee stock ownership plans.

Recently I attended the 2012 NMLS Annual Conference in Scottsdale, Ariz., and learned that there are still many challenges out in the licensing corner of mortgage lending. It was a great opportunity to meet with state and federal regulators, compliance professionals, licensing specialists, lawyers, and experts in the industry.

The House Financial Services Committee has approved a bill to enhance the FHA's authority to police bad lenders after rejecting an amendment that would have reduced the agency's loan guarantees.

The Treasury Department is fighting back against critics of principal reduction who claim second lien holders will unfairly benefit from a reduction in the loan balances of underwater Fannie Mae/ Freddie Mac loans.

Recent Federal Housing Finance Agency efforts to interest buyers in the foreclosure-to-rent market may be off to a good start with an unlikely type of investor even though it still is everyone's guess whether this management strategy will effectively ease off inventory pressures and speed up the recovery.