Risk management

The mortgage industry is welcoming the Obama administration's possibly final word on housing finance reform, hoping it will serve as guidepost for the future.

The CFPB sent letters Thursday to 44 mortgage lenders and brokers warning them of potential reporting violations related to their mortgage lending activities — infractions the bureau is increasingly pushing lenders to take seriously.

Barclays is trying to draw a line at $2 billion in penalties to settle a U.S. investigation into its sale of mortgage securities after it received an opening offer that it considered too high.

The Consumer Financial Protection Bureau will require underperforming servicers to document the technology and process changes they're making to implement the agency's recently released servicing regulations.

Fannie Mae is planning to provide relief to lenders from potential buybacks for loans in which the borrower's income, assets and employment information have been validated through automated underwriting.

In an election year dominated by controversy and big personalities, political contributions from the mortgage industry have remained muted, reflecting apathy and uncertainty toward Hillary Clinton and Donald Trump.

Greg Carmichael, who has been on the job nearly a year as Fifth Third's CEO, has started putting his stamp on the company by aggressively trimming branches in favor of mobile, seeking to build up its consumer credit business and retooling the balance sheet.

The mortgage industry remains deeply uneasy with efforts by Fannie Mae, Freddie Mac and their regulator to experiment with front-end credit risk transfers, with some arguing it helps borrowers and lenders, while others fear it will cut out small institutions.

In a move designed to help further calm lender fears about mortgage repurchase liability, Fannie Mae is preparing to offer immediate representation and warranty relief to lenders that use its suite of automated quality assurance technology.

Lenders asking whether bank loans are safe are missing the point and should instead be more concerned with the standard they apply when underwriting them.