Compliance systems

The Consumer Financial Protection Bureau has made some key changes to its compliance guide for the three major mortgage rules that took effect earlier this year.

Lenders cannot afford to relax when it comes to performing regression analysis and fair lending training, but may find if they have strong compliance that they have more pricing options.

More investors in mortgage servicers lost faith in the firms as quarterly results highlighted their struggles to expand into businesses, control costs and address issues raised by regulators.

Ocwen Financial is making progress to settle allegations against it, but that does not mean it will be cheap, one analyst says. The current servicing freeze in the industry has grown so serious that some say it may be delaying the government’s goals to expand the availability of mortgage credit.

Lack of diversity in the sales force is one of several nagging issues underlying mortgage lenders' concerns about tepid home sales.

Industry veteran David Applegate will serve as CEO of Common Securitization Solutions LLC, the new firm co-owned by Fannie Mae and Freddie Mac to develop a common securitization platform for the mortgage secondary market.

During the past week, consumer and industry groups have lobbied the agency in different directions, with consumer groups arguing the agency did not go far enough and lenders saying it went too far in seeking more data from lenders.

A recent survey shows a very large number of mortgage lenders worry about loan quality and Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule compliance costs.

Technology companies such as Ellie Mae, which almost doubled its employees to 700 and saw its stock price reach a new high this year, are seizing an opportunity to transform how mortgages are made.

Mortgage executives who have long decried new regulations as excessive are increasingly becoming resigned to the fact that changes are here to stay.