Compliance

The Consumer Financial Protection Bureau's practice of "regulation by enforcement" and use of nonbinding guidance materials makes its regulatory efforts "unfair and ineffective" to lenders and servicers, the Mortgage Bankers Association said.

The number of nonbank lenders and servicers that did not comply with the California Residential Mortgage Lending Act Annual Report requirements grew this year, prompting a reprimand and warning of penalties from the commissioner of the state's Department of Business Oversight.

Most mortgage lenders and banks do not maintain a comprehensive vendor management strategy, exposing institutions to increased compliance risk, according to a recent survey.

The Columbus, Ohio, city attorney's office has filed a complaint against a corporation based in Nebraska and Columbus that owns 11 blighted properties here and created companies to shield it from liability.

Bank of America Corp.'s Merrill Lynch unit will pay $15.7 million to settle a U.S. regulator's allegations that it failed to properly supervise traders who persuaded clients to overpay for mortgage bonds by misleading them about how much the firm paid for the securities.

Groups representing banks, credit unions, the housing industry and others argue in favor of a bill requiring the CFPB to issue timely guidance on its rules.

The Atlanta bank had previously failed compliance metrics in five straight quarters before passing them last year, according to the settlement's monitor.

Ditech Holding Corp. has received a second notice from the New York Stock Exchange warning its common stock could be delisted for not being in compliance with the exchange's requirements.

The increased regulatory burden created by the Dodd-Frank Act restricted bank residential lending in 2017, especially when it came to non-qualified mortgages, according to an American Bankers Association survey.

John Krenitsky, who previously managed compliance for Discover Financial Services and various banks, is joining Freddie Mac as senior vice president and chief compliance officer on June 1.

Sonoma County supervisors have signed off on a wide-ranging suite of policy changes intended to encourage construction of more new homes seven months after nearly 5,300 residences were lost here in last year's devastating wildfires.

California is set to become the first state to require solar panels on all newly built single-family houses.

Demands for loan quality aren't just coming from regulators and the government-sponsored enterprises. Secondary market partners and investors don't want to be left holding the bag if loans that lenders create have quality issues.

A former Cantor Fitzgerald managing director was cleared of charges that he defrauded customers by lying about prices of mortgage-backed securities.

A federal jury is poised to determine whether a former Cantor Fitzgerald managing director's tactics in trading mortgage-backed securities constitute securities fraud.

From tech that ensures foreclosures are processed correctly to implementing robotic process automation, here's a look at seven strategies that servicers can use to stay compliant and on budget.

The Consumer Financial Protection Bureau has dropped an investigation into Altisource, a mortgage servicing technology firm with close ties to Ocwen Financial.

After less than a week of trial, prosecutors rested their case against a former Cantor Fitzgerald trader accused of lying to his customers about bond prices.

A portfolio manager for an investment firm allegedly defrauded by a former Cantor Fitzgerald managing director said he might still work with a trader who lied to him — depending on the circumstances.

The CFPB finalized an amendment to its "know before you owe" mortgage disclosure rule that gives lenders more flexibility to adjust closing cost estimates and pass those increases on to borrowers.