Compliance & Regulation

National Association of Mortgage Brokers president Don Frommeyer weighed in on what he feels are inordinate disclosure requirements loan brokers face during a recent discussion at the group's NAMB/West Show in Las Vegas.

Consumer Financial Protection Bureau director Richard Cordray on Thursday appointed Raj Date as the agency's first deputy director.

Two high ranking Democratic congressmen plan to hold a hearing later this month in Chicago to highlight the failure of mortgage servicers to adequately maintain foreclosed properties.

The Department of Housing and Urban Development has suspended James Grier, the president of Section 8 apartment complex Mantua Gardens East in Philadelphia, Pa. from conducting business with the federal government.

Now that a 10 basis point hike in GSE guarantee fees has been carved into law, mortgage rates could rise by as much as 25 basis points, according to calculations done by Lenders One, a national cooperative of mortgage funders.

While all eyes were on the recess appointment of its first director Wednesday, the Consumer Financial Protection Bureau quietly released guidance that directs supervised banks to turn over any and all information it requests.

Federal Reserve chairman Ben Bernanke is pressuring the Federal Housing Finance Agency to take additional steps to make the newly implemented HARP 2.0 program more accessible for homeowners with GSE loans.

President Obama's recess appointment of Richard Cordray on Wednesday will clear the way for the Consumer Financial Protection Bureau to use its full enforcement and regulatory powers to police all mortgage lenders and servicers.

The Collingwood Group, a Washington-based mortgage advisory firm, has acquired GWN Consulting LLC, a specialist in FHA and GNMA risk management and quality control services.

The White House Wednesday morning signaled its intention to make former Ohio Attorney General Richard Cordray the first director of the Consumer Financial Protection Bureau through a recess appointment.