Compliance

The average single-family guarantee fee paid to Fannie Mae and Freddie Mac only increased by two basis points in 2015 to 59 bps, according to the Federal Housing Finance Agency.

The Consumer Financial Protection Bureau's proposal Friday updating its mortgage disclosure rule did not give lenders what they wanted: an ability to correct errors after a loan has closed and a release from liability for technical violations. But the 293-page proposal did provide revisions that will help in compliance and the closing of more loans.

Carver Bancorp in New York is dealing with a new set of challenges just months after being released from a longstanding enforcement order. The company’s woes highlight the challenges for banks with narrowly constrained business models.

The Department of Housing and Urban Development has reached an agreement with Citizens Bank to settle allegations that the bank discriminated against a woman on maternity leave.

The CFPB updated its "Know Before You Owe" mortgage disclosure rule to provide more clarity to lenders. It has proposed additional tolerance provisions, clarified a partial exemption for housing finance agencies, extended the rule's coverage to all cooperative units, and provided more clarity about privacy and the sharing of information.

The Federal Housing Administration is promoting a particular kind of financing for residential energy retrofits that another regulator staunchly opposes. Mortgage lenders and investors have qualms, too, about the impact on their standing in collateral claims.

Ocwen Financial Corp. posted yet another net loss during the second quarter, this time reflecting the impact of legal and settlement costs among other factors.

President Obama called for Fannie Mae and Freddie Mac to be eliminated, but Democratic policymakers attending the convention here appear resigned to the fact that Congress is unable to act on housing finance reform.

The Consumer Financial Protection Bureau released a plan Thursday to overhaul the debt collection industry that would limit collection attempts to six per week and require confirmation of a debt before contacting consumers. The plan, however, is not yet directed at banks and credit card companies.

Citigroup fired a mortgage trader four months ago after internal and external lawyers determined he mismarked his portfolio.