Compliance

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.

The government-sponsored enterprise is working to rebuild partnerships with church organizations and housing financing agencies as part of a broader effort to make owning a home affordable for low- and moderate-income families.

Accurately capturing mortgage data to meet new federal regulators is a top challenge for banks and credit unions, according to Wolters Kluwer Financial Services.

The report from independent auditors will likely show that FHA remains below its 2% statutory minimum capital ratio, but HUD officials and outside observers still expect it to show major improvement over last year.

Executives at small banks and credit unions told the Senate Banking Committee about horror stories of technical glitches, vendor delays and overworked appraisers, while expressing an interest in having more time to comply with new mortgage rules.

Department of Housing and Urban Development staff are working on a revision to the agency's condo rule and "we anticipate a rulemaking process," HUD Secretary Julian Castro said this week.

Rep. Paul Ryan’s expected election as House Speaker this week may ultimately prove a boon for the banking industry — especially for critics of the Dodd-Frank Act and the current mortgage finance system.

Combined with the disparate impact theory, recently recognized by the U.S. Supreme Court under the Fair Housing Act, the HMDA rule further compounds legal risks and business challenges to lenders.

The acting head of New York’s Department of Financial Services will step down before the end of the year, giving New York Gov. Andrew Cuomo a run at reshaping a regulator that has levied billions of dollars of penalties against international banks and at times raised hackles in foreign capitals.

The homebuilder says his mortgage shop was ready for the new mortgage disclosures. No problems so far.

Quicken Loans CEO Bill Emerson's term as chairman of the MBA underscores how the consumer-direct mortgage channel has grown from a quirky novelty to the force leading a technology revolution.

Legislation would require GAO to study the impact the FHFA membership rule would have on the FHLB System and its members.