Compliance

Cathay General Bancorp in Los Angeles has agreed to a community reinvestment plan tied to its deal to buy SinoPac Bancorp from Bank SinoPac in Taiwan.

The Federal Reserve has maintained historically low interest rates for too long, causing superficially high prices in housing and other assets. The outcome of the presidential election will likely decide whether the Fed maintains the status quo or embraces risk and raises rates.

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.

Mortgage brokers were among the companies that received the regulator's warning letters, but brokers are not required to report HMDA data — leading many to suspect mini-correspondents, which straddle the line between broker and lender, were the recipients.

Both Fannie Mae and Freddie Mac failed to achieve their low-income and very low-income single-family home purchase goals for 2015, the Federal Housing Finance Agency annual housing report said.

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.

A financial report due out soon could reignite a battle over whether the Federal Housing Administration should again reduce its annual premium.

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.