Compliance

A key element to the final qualified mortgage rule is supposed to deliver QM protection to otherwise unqualified loans, opening up smaller lenders to make more loans. Here's why that's not going to work.

The added clarity provided by the Federal Housing Administration's revised single-family handbook comes at the expense of lender flexibility to get loans qualified, including a popular workaround for borrowers with deferred student loan debt.

The former chief executive of a Nebraska bank has been convicted by a federal jury for lying to investors and regulators about considerable losses tied to risky commercial real estate investments.

The Consumer Financial Protection Bureau is pushing back against a lawsuit from PHH Corp. that claims the agency erred in overturning an administrative law judge's recommendation to limit the amount of penalties it could face.

While regulatory pressures remain top of mind for the mortgage industry, lenders surveyed by National Mortgage News are shifting their attention from defensive-minded compliance initiatives to ones that improve companies' ability to compete.

Title insurers are bracing for a bumpy fourth quarter due to the CFPB's new mortgage disclosure rules. But the timing of the regulation might actually help get the short-term pains out of the way during what's typically a slower period of mortgage activity.

Nonbank mortgage lenders added 1,600 employees to their payrolls in September, which combined with revised August figures brought industry employment to its highest point in more than two years.

While the overwhelming majority of Nationstar Mortgage Holdings' $4.9 billion in home loan originations in the third quarter were conventional loans, that will be changing soon if the company's chief executive officer has his way.

Former Rabobank trader Anthony Allen, found guilty for rigging a key financial benchmark, struck jurors in Manhattan as evasive, deceptive and "shaky," as one of them put it after delivering the verdict.

WASHINGTON — The House passed a massive $340 billion transportation bill on Thursday, striking two key provisions hated by the banking industry while adding several other measures that could affect financial institutions.

Wells Fargo has agreed to pay $81.6 million to settle a federal investigation into its alleged failure to properly notify homeowners of increases in their mortgage payments.

Critical shortcomings in data management and analytics to support servicing rights transfers will become more problematic amid servicer expectations of accelerated activity, according to the results of a National Mortgage News survey.

PHH Corp. swung to a loss in the third quarter, as the mortgage servicer and originator set aside reserves to cover the potential cost of regulatory investigations.

After years of plowing resources into compliance projects, mortgage lenders surveyed by National Mortgage News are foregrounding core business initiatives in their plans for the coming year. High on to-do lists are projects aimed at improving the customer experience and seizing new business opportunities.

Luther Burbank Savings, in Santa Rosa, Calif., has established three home loan programs aimed at helping low- and moderate-income borrowers afford to buy homes in nine California counties.

Nationstar will provide servicing-released option for fledging Chicago's MPF Government MPF program.

What's old is new again, but lenders should heed lessons from the past when re-entering the second-lien originations market.

Freddie Mac posted a third quarter loss of $501 million, its first quarterly loss in four years, but the government-sponsored enterprise will not request a draw from the U.S. Treasury.

Though the deadline for compliance is more than two years away, lenders are already warning that they do not have enough time to comply with a new rule that requires institutions to report additional data to regulators on home loans.

A New Jersey woman and her parents were found guilty of a sophisticated mortgage equity fraud scheme by a Pennsylvania federal jury.