Compliance

A newer set of issues and opportunities presents itself for those embracing technology, involving everything from business strategy to cybersecurity.

Revised legislation would exclude credit unions from Community Reinvestment Act requirements, but could make the National Credit Union Administration the de facto enforcer of how CUs meet the needs of underserved markets.

Mortgage brokers need to consider bringing their business into new locations to overcome limitations like competition and a finite number of possible customers.

Ginnie Mae could limit how much servicing income mortgage lenders can sell off through a transaction if they don't establish a minimum 25-basis-point spread at the portfolio level by next year.

Residential mortgage-backed securities servicers are better able to weather a downturn and the resulting loan defaults today versus before the crisis because of their investments in technology and regulatory compliance, Fitch Ratings said.

Ginnie Mae has restricted loanDepot's ability to securitize Veterans Affairs mortgages because of apparent churning of recent originations.

The same TILA-RESPA integrated disclosure errors continue to plague mortgage lenders, though those documents have been required for over three years, a report from MetaSource said.

New York State is providing additional funding to municipalities that will boost efforts regarding mortgage servicer compliance with the state and local vacant property laws.

1st Alliance Lending CEO John DiIorio explains why the mortgage lender turned down a consent order with the Connecticut Department of Banking and the high cost of fighting what he sees as an overreach of regulators' enforcement power.

Fintechs must be held to the same standards as regulated financial institutions, a letter from the National Association of Federally-Insured Credit Unions stated that used Zillow's entrance into the mortgage business as an example.