Compliance

WASHINGTON — After months of declining industry and congressional pleas to delay an impending rule combining two mortgage disclosure regimes, the Consumer Financial Protection Bureau on Wednesday announced a two-month delay due to an "administrative error."

Six servicers were cited for a range of infractions, including a failure to respond to requests for loan modifications and not doing enough to prevent foreclosures. Punishment was harsh for Wells Fargo and HSBC, which are banned from acquiring mortgage servicing rights and entering into new servicing contracts.

Six banks including JPMorgan Chase and Wells Fargo have been placed under further business restrictions after the Office of the Comptroller of the Currency determined they had yet to fully meet regulatory orders related to the independent foreclosure review which began in 2011.

A Virginia man on Monday pleaded guilty to federal charges tied to bogus real estate transactions conducted between 2006 and 2007.

New regulations for credit rating agencies that took effect this week are expected to make mortgage and other asset-backed securities more transparent by requiring broader disclosure of certain due diligence reports.

More than a year after the CFPB revamped its employee rating system following allegations of discrimination Equal Employment Opportunity complaints have surged and the agency faces ongoing accusations of bias and retaliation against workers who speak out.

Casey Crawford went from playing on a team that won the Super Bowl to running a mortgage company that he expects to originate almost $8 billion in U.S. home loans this year.

Throwing bodies at TRID implementation won't solve problems. Using technology to automate origination processes can help rein in costs and maintain compliance.

A new Department of Housing and Urban Development policy will make it easier for servicers to transfer certain reverse mortgages back to HUD instead of foreclosing on widowed nonborrower spouses.

Several House lawmakers joined the call Thursday for a formal grace period for new mortgage disclosures that would go beyond an earlier decision by the Consumer Financial Protection Bureau.

Private mortgage insurers see deeper coverage of GSE loans as a way to expand business, while lenders hope it could lead to a reduction to guarantee fees.

Alternative data used to score "credit invisibles" may do more harm than good. That's because in areas like employment and insurance, no credit score is often better than a bad one

More than a dozen housing groups are urging lawmakers to pass legislation that would grant lenders a formal grace period for implementing new disclosure forms later this summer, arguing that the industry needs greater certainty than the Consumer Financial Protection Bureau has so far provided.

Stewart Title Guaranty has agreed to offer a voluntary Deloitte & Touche compliance service to its independent title and settlement agents.

Two recent settlements show how far the Consumer Financial Protection Bureau is willing to go to pursue lenders it believes skirted the loan officer compensation rules.

The details of the final Des-Moines-Seattle Home Loan Bank deal made it clear why this merger worked when past attempts had not and gave clues as to whether other institutions could one day follow suit. Following are three items that jumped out.

The Louisiana Real Estate Appraisers Board said Coester Appraisal Management Group did not violate state law for failing to pay appraisers "customary and reasonable" fees, and that its executive director "misspoke" about a stipulation and order with the AMC.

How interested banks, REITs and other investors will be in replacing the Federal Reserve as buyers of mortgage-backed securities insured by government-related entities depends on a wide range of regulatory and economic factors.

The regulatory burden for originators has not only been the main driver of acquisition activity in mortgages but also influences deal structures. Acquirers are looking to craft transactions so they don't get burned by targets' compliance lapses.

Securities issuers are increasingly worried that risk-retention requirements could hinder efforts to broaden the types of loans securitized through the private-label market as implementation for the new regulation nears.