Compliance

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.

A California man has been indicted by a federal grand jury for allegedly trying to rig public foreclosure auctions in Northern California between 2008 and 2011.

A New Jersey man has been sentenced to 27 years in prison for scamming vacation-timeshare customers of $3 million.

JPMorgan Chase and Dexia agreed to settle a New York lawsuit over $1.6 billion of mortgage-backed securities. Terms of the settlement weren't disclosed in a June 26 court filing.

Despite some silver lining, analysts say the Supreme Court decision upholding "disparate impact" in fair-lending disputes will only embolden activists and regulators to bring more cases.

The Consumer Financial Protection Bureau went forward with a controversial move Thursday to include narratives in its complaint database.

In a huge win for housing advocates and a setback for the banking industry, the Supreme Court on Thursday upheld the use of "disparate impact" in a Texas case alleging housing-related discrimination.

Operations staff is at the tricky crossroads of managing and changing the business. To remain competitive and compliant, lenders must make additional training and networking opportunities available for that team.

A senior civil rights official at the Consumer Financial Protection Bureau is poised to tell Congress Thursday that the agency willfully disregards the process for handling internal employee complaints of discrimination and has repeatedly retaliated against staff who spoke out.

Two groups representing small and mid-size lenders say new proposed state mortgage servicing standards for nonbanks will add an unnecessary layer of regulatory burden, especially for firms servicing Fannie Mae and Freddie Mac loans.

The Consumer Financial Protection Bureau's new mortgage integrated disclosure rules will now take effect Saturday, Oct. 3, two days later than the previously rescheduled Oct. 1 deadline.

A recent critique of the CFPB's enforcement action against an alleged loan officer point bank run by RPM Mortgage perpetuates misinformation that only serves to undermine the policies and practices of responsible lenders.