Dodd-Frank

The House passed two controversial regulatory relief bills Wednesday evening ahead of the looming yearend budget fight.

From single-point-of-contact requirements to the need for better self-service options, servicers surveyed by National Mortgage News are taking a much-needed hard look at the full range of customer touch-points that they operate.

Accurately capturing mortgage data to meet new federal regulators is a top challenge for banks and credit unions, according to Wolters Kluwer Financial Services.

Executives at small banks and credit unions told the Senate Banking Committee about horror stories of technical glitches, vendor delays and overworked appraisers, while expressing an interest in having more time to comply with new mortgage rules.

Rep. Paul Ryan’s expected election as House Speaker this week may ultimately prove a boon for the banking industry — especially for critics of the Dodd-Frank Act and the current mortgage finance system.

Combined with the disparate impact theory, recently recognized by the U.S. Supreme Court under the Fair Housing Act, the HMDA rule further compounds legal risks and business challenges to lenders.

The homebuilder says his mortgage shop was ready for the new mortgage disclosures. No problems so far.

The CFPB’s expanded data requirements for the Home Mortgage Disclosure Act will create a powerful tool for analyzing fair lending compliance. But some say the initiative is a massive overreach that could compromise borrower privacy.

The Consumer Financial Protection Database might be unfair to the financial services industry, but the information it holds for lenders and servicers can help them manage customer service and avoid costly litigation.

From thrift deregulation to government domination, the mortgage business is prone to dramatic shifts. Here are 10 people who share the credit, or the blame, for major industry changes.

In addition to staying on top of the day-to-day requirements of TRID, lenders must also avoid big-picture mistakes that could disrupt their compliance

Mortgage application volume fell 27.6% on an adjusted basis for the week ending Oct. 9, reversing the rush of the previous week caused by the TILA-RESPA Integrated Disclosure rule becoming effective, according to the Mortgage Bankers Association.

"How's TRID going with you?" is sure to be the most-asked question at the Mortgage Bankers Association's Annual Convention, but fair lending compliance and the Qualified Residential Mortgage rule are among the key market developments that will dominate conversations.

The House voted 303 to 121 on Wednesday to pass a bill that would delay enforcement of new mortgage disclosures that went into effect on Oct. 3.

The Mortgage Bankers Association is disappointed that the Consumer Financial Protection Bureau has not provided an explicit temporary safe harbor for lenders who have made a good-faith effort to implement new disclosures.

WASHINGTON — Federal examiners will expect institutions to show that they made a "good faith" effort in preparing for the implementation of the new integrated mortgage disclosures that go into effect on Oct. 3, regulators said in letters sent to industry groups on Thursday.

The long-delayed approval of the merger of M&T and Hudson City should have been a bright spot in postcrisis M&A, but a small footnote from the Fed quickly reminded bankers that dealmaking will remain a demanding process.

The Federal Housing Finance Agency is planning to issue a final rule in the next 12 months to require Fannie Mae and Freddie Mac to better serve underserved markets, including manufactured housing, the agency said Thursday.

A handful of moderate Democrats are supporting a controversial bill to restructure the Consumer Financial Protection Bureau, and are expected to help the House Financial Services Committee approve the legislation.

If the Consumer Financial Protection Bureau provides lenders with a hold harmless period, it must also include protections to keep lenders from facing future lawsuits related to TILA-RESPA Integrated Disclosures compliance.