Compliance & Regulation

Fannie Mae late Friday finally had something to say about Bank of America's announcement that it would no longer sell new purchase money loans to the GSE: it hopes to resolve the buyback disputes between the two parties.

State and federal disclosure differences could be a challenge as U.S. regulators continue to work toward improving the Good Faith Estimate and consumers' understanding of it.

Flagstar Bancorp, the nation's ninth largest residential lender, late this week agreed to pay up to $133 million to settle claims regarding unspecified underwriting practices associated with loans insured by the Federal Housing Administration.

First off, I'd like to thank the crew at Bank of America for continually giving mortgage reporters and editors something to write about. Don't get me wrong--there's plenty of good stories out there. And let's face it--and you read it here first: What happens regulatory and legislatively over the next three to four years should shape the future of this industry for the next 50 years.

The Consumer Financial Protection Bureau received about 2,300 complaints about mortgage servicers in December, when it began accepting complaints online, and the pace of borrower complaints has been steady ever since, according to a senior agency official.

One of the more confusing areas of the loan officer compensation rules involves branch managers. Neither the rule nor its guidance made any mention of branch managers.

After 12 installments last year, Interthinx will continue to record its monthly audio podcast called "Direct from DC" that discusses legislative and regulatory developments that impacts the mortgage servicing and lending industry.

How anxious are residential lenders and servicers about the new levels of regulation and compliance they are being subjected to? The answer is: plenty nervous.

Maryland is developing a pilot program to take its mandatory foreclosure mediation process paperless.

A bill that would prevent the Consumer Financial Protection Bureau from releasing confidential lender information to third parties appears to be on the fast track to becoming law.