Compliance & Regulation

Slight rises in delinquency rates in the fourth quarter on credit cards and mortgages contributed to the index's increase

Beginning July 16, Fannie Mae, Freddie Mac and the Federal Home Loan Banks will no longer be allowed to deal in mortgages on properties encumbered by private transfer fee covenants that do not benefit the property.

House Financial Services Committee Chairman Spencer Bachus survived a challenge this week from three Republicans in Alabama's Sixth Congressional District, clearing a path to re-election.

California is taking aim at the prices banks and insurers charge for force-placed home insurance, the state announced on Wednesday.

Credit union executives urged Congress this morning to step in and alleviate a rapidly growing list of new regulations affecting credit unions and banks.

Bank of America, JPMorgan Chase, and three other residential servicers agreed to pay $25 million to New York State to resolve certain monetary claims over the use of the MERS database after reaching a $25 billion national settlement on robo-signing charges.

Remember the good old days when mortgage bankers were considered the "good guys," the ones who put people in houses? And remember when it appeared that plenty of outside capital was itching to get into this industry?

The Obama administration's latest "housing scorecard" suggests there is some progress when it comes to servicers' ability to fulfill the aims of regulatory programs that encourage mortgage rehabilitation, according to one expert.

The size of the residential loan market over the short-term will be determined by the definition of 'qualified mortgage,' which is more important to the industry than the definition of 'qualified residential mortgage,' declared a top lending executive for BB&T speaking at the Regional Conference of the Mortgage Bankers Association in Atlantic City.

The release of the last few details of the $25 billion mortgage servicing settlement this week revealed a deal that was, overall, not quite as bad for the banks/mega-servicers as many observers and analysts expected.