Compliance

The Consumer Financial Protection Bureau's massive collection of consumer data continued to raise concerns with lawmakers on Wednesday despite assurances from the agency's director that the data is anonymized.

Three Democratic members of Congress called on the Department of Housing and Urban Development to reissue the proposal for public comment with changes.

The "deceptive" in Unfair, Deceptive, or Abusive Acts or Practices includes negligence, as demonstrated by a recent Consumer Financial Protection Bureau enforcement action.

Struggling to win business in the age of QM, Impac Mortgage has relaxed underwriting requirements in hopes of attracting borrowers many other lenders won't touch.

Some housing professionals have grown reluctant to participate in the Federal Home Loan Banks' Affordable Housing Program, objecting to burdensome requirements and rules that are inconsistent with other funding sources. It's time for the Federal Housing Finance Agency to make some updates.

Lenders must be proactive in their communication with customers to stay ahead of potential complaints and ward off regulatory scrutiny.

Lenders and real estate agents may have to extend the usual 30-day timelines for rate locks and sales contracts while they get acclimated to the new Consumer Financial Protection Bureau mortgage disclosures that take effect in October.

NetDirector has upgraded its software to improve the accuracy of verifications of borrowers who are members of the military.

JPMorgan Chase has continued to take steps towards satisfying its portion of the residential mortgage-backed securities settlement, according to the independent monitor put in place to track the bank's progress.

Mortgage professionals brave enough to bring mortgage fraud to light deserve the same level of protections as workers in other businesses, rather than be subjected to a patchwork of laws designed for other industries.

Nearly 25 years after a landmark deal and two subsequent legislative overhauls, glitches in the credit reporting system remain widespread. But while regulators and law enforcement officials are again raising the stakes for the credit reporting industry, critics fear it may not be enough.

The Supreme Court's recent ruling that the disparate impact theory of liability can be applied to the Fair Housing Act means mortgage lenders must be even more vigilant in their ongoing testing and evaluation of business practices that could be interpreted as even unintentional discrimination.

BOK Financial has hired Glenn Brunker to oversee mortgage operations and manage the bank's transition to a new federally required consolidated mortgage disclosure regime.

The Consumer Financial Protection Bureau's reach beyond RESPA's statute of limitations and subjective lens on marketing agreements taps into industry fears of retroactive punishment.

The Leadership Conference on Civil and Human Rights wants to recapitalize Fannie Mae and Freddie Mac to provide a secure source of funding for affordable housing.

The chief executive officers of Fannie Mae and Freddie Mac may see more than a sixfold increase in their compensation to $4 million in spite of objections from President Obama's administration and some lawmakers.

The narrowing gap between what large and small lenders pay in guarantee fees to Fannie Mae and Freddie Mac has helped the industry's smallest originators grow their share of mortgages sold to the government-sponsored enterprises.

New York City's affordable housing stock will get a boost from Bank of America Corp. and Citigroup Inc. as part of settlements resolving mortgage-bond practices that led to the 2008 financial crisis.

The Federal Housing Administration's new loan defect "taxonomy" may give lenders better clarity on the quality assurance reviews of FHA loans, but it is not a shield from possible enforcement action by the Department of Justice and other regulators.

Citigroup failed one of the monitoring tests performed as part of the national mortgage settlement, according to new reports filed by NMS monitor Joseph A. Smith Jr.