Compliance & Regulation

The single-family housing market has yet to recover in Southern California but regional opportunities are sprouting up in multifamily, according to a new forecast from Wells Fargo chief economist John Silvia.

Regulators said Wednesday they are extending the deadline for borrowers to request an independent foreclosure review under the consent orders signed by 14 mortgage servicers last April.

Last summer when MetLife revealed that it would sell its "forward" mortgage business the company did something smart for its workers: it paid for its loan officers to take classes and obtain their state licenses.

Boxing reminds me a lot of today's lenders. Most lenders get into the ring every day, fighting until someone drops. The reason however is not to win a match, but to prevent a repurchase.

The bankruptcy trustee for Thornburg Mortgage this week agreed to settle for $6.5 million a lawsuit against the company's former executives and legal counsel to settle charges that they engaged in a conspiracy to secretly use the failed jumbo lender's employees and assets to launch a new company.

Word is that initial fair lending exams underway under the auspices of the new Consumer Financial Protection Bureau, some passed on from their original regulator, are largely focused on pricing.

The Department of Housing and Urban Development this week shut the door on Farm Credit System lending institutions entering the Federal Housing Administration program, following stiff opposition from the American Bankers Association.

WASHINGTON - Federal officials and state attorneys general released new documents Tuesday about the $25 billion multi-state servicing settlement, but still have yet to release a final settlement term sheet.

The Consumer Financial Protection Bureau budget is expected to jump 32% in fiscal year 2013, to $448 million, under the White House budget proposal.

The Obama administration is urging Congress to extend a tax provision allowing troubled homeowners that complete a short sale -- or benefit from a principal reduction -- to avoid paying taxes on the discharged amount of their loan balance.