Compliance

The experience of updating systems and overhauling workflows that mortgage lenders gleaned from implementing the TILA-RESPA integrated disclosures could prove useful to portfolio lenders as they implement a similarly complex accounting rule for reporting credit losses.

The Department of Housing and Urban Development issued a proposal Wednesday to codify recent changes to its reverse mortgage program and to provide additional protections for seniors, including a cap on annual interest rate increases.

New York's financial regulator has issued subpoenas to two companies with ties to Apollo Global Management as part of an inquiry into housing transactions for low-income buyers.

The June 25 launch, which will provide lenders with much more information about a borrower's credit history, will mark the first widespread use of trended data in the mortgage industry.

The government-sponsored enterprises' risk-sharing deals are being hailed as an innovative approach for Fannie Mae and Freddie Mac to offload credit exposure to private markets. But their growing popularity is raising questions about how these transactions should be reported in financial statements.

Despite not taking effect until well over a year from now, changes to the Home Mortgage Disclosure Act are already becoming a source of concern for lenders, QuestSoft found in its annual compliance survey.

Redwood Trust is broadening what kinds of prime jumbo mortgages it will accept and its appetite for non-qualified mortgages.

Credit access and homeownership for low- to moderate-income families are under siege by the DOJ's overuse of the False Claims Act, as lenders worried about punitive damages discontinue Federal Housing Administration loan programs.

After the Home Affordable Modification Program ends, servicers will employ myriad proprietary workout options to meet ongoing compliance requirements. But will more discretion in loss mitigation practices create consumer and investor confusion?

The Consumer Mortgage Coalition is arguing that the bill has serious flaws by allowing private insurers to undercut pricing on federal flood insurance policies by offering high deductibles and exclusions to homeowners with mortgages guaranteed by the government-sponsored enterprises.