Compliance & Regulation

HECM lenders and originators need to be increasingly proactive about reporting potential fraud and aware of how best to identify and report it if they want to mitigate potential indemnification and compliance risk, a special agent from HUD IG's office told attendees at a National Reverse Mortgage Lenders Association meeting Tuesday.

While facing continued pressure from its largest investor for a management shakeup, CoreLogic expects to benefit from continued mortgage refinancing activity, internal cost cutting and the introduction of new products.

It appears the Consumer Financial Protection Bureau will revisit the issue of loan officer compensation - and maybe even in a way that benefits nonbank LOs. The whole issue is too early to predict, and we suggest you visit the main National Mortgage News website for a just breaking update.

The House passed a bipartisan bill Monday that would expand protections for privileged information that financial institutions share with the Consumer Financial Protection Bureau.

Five years after two big credit union failures left it with 1,700 southwest Florida properties, the National Credit Union Administration is continuing to receive declining prices for hundreds of properties on the depressed local market, according to a new internal study released last week by the agency's Office of Inspector General.

The National Reverse Mortgage Lenders Association has raised the possibility of creating a hybrid reverse mortgage loan with members of the White House staff, Peter Bell, its president and CEO told attendees at the group's eastern regional meeting in New York.

The Department of Housing and Urban Development has ordered AmericaHomeKey, Inc., to immediately stop making FHA-insured mortgages and fined the Dallas-based lender $268,000.

It is hard to deny Richard Cordray's hiring to run the Consumer Financial Protection Bureau nearly four months ago is a flash point in continuing debates over regulatory appointments and implementing the Dodd-Frank Act.

New government aid programs for troubled homeowners are forcing cost-cutting banks into a tricky balancing act.

We all wish we could have just stayed in bed some days, and Bank of America officials have had more than their share of those days in the past week.