Compliance

Supreme Court justices appeared skeptical of both sides during oral arguments on Monday in a case that could shape whether regulators have to ask for public feedback before significantly changing a rule.

While the lawsuit may not succeed, lenders should carefully evaluate adherence to required loss mitigation procedures on Department of Housing and Urban Development loans.

A final judgment against Bank of America in a mortgage-bond lawsuit by the Securities and Exchange Commission was signed by a federal judge, helping clear the way for the lender to complete a $16.7 billion global settlement of claims it misled investors about risk.

New initiatives meant to increase access to credit have rekindled the debate over whether housing counseling is the best and most cost-effective way for preparing consumers to become mortgage borrowers.

In some cases lenders are using “safeguards” against for loans made outside the legal safe harbor for "qualified mortgages" that reprise old protections that did not work before.

Giving roughly 5 million immigrants at least temporary relief from deportation could conceivably ease lenders' and borrowers' qualms about mortgages to undocumented workers who qualify with individual taxpayer identification numbers.

Lenders who make or buy non-qualified mortgages are learning how to get more of a handle on the risks, in part by ensuring they don't stray too far away from QM boundaries.

The U.S. Securities and Exchange Commission resolved an impasse over punishing Bank of America Corp. in a mortgage-bond case, clearing the way for the lender to complete a $16.7 billion global settlement, people familiar with the matter said.

Fannie Mae and Freddie Mac updated their representation and warranties frameworks in a move designed to encourage mortgage lenders to ease credit restrictions by limiting repurchase requirements.

The Consumer Financial Protection Bureau issued a proposal Thursday that would institute new foreclosure protections for consumers after the agency found its previous mortgage rules didn't go far enough.

An automated consumer training technology aims to mitigate compliance risk in loans outside qualified mortgage standards for liability protection.

More than 60 members of Congress joined banks and credit union trade groups this week in urging the agency to modify its plan to require members of the 12 regional Home Loan Banks to hold a certain percentage of mortgages on their books.

WASHINGTON — The top Republican and Democratic spots on the House Financial Services Committee will remain unchanged in the new Congress.

The New York unit of Japanese securities firm Nomura Holdings may be three traders short after reportedly placing them on leave, but the firm is said to have muscled away a large auction held yesterday.

Lawyers for the U.S. and Wells Fargo told a judge they doubt they can reach a settlement in a government lawsuit accusing the bank of home-mortgage fraud, a person familiar with the matter said.

An independent actuarial report showed the Federal Housing Administration's mortgage insurance fund's capital ratio hit 0.41% this year, which is below the earlier estimate of 1.2%.

Plaintiffs advocating for spousal rights in existing Home Equity Conversion Mortgages are renewing their motion for class certification, citing circumstances surrounding two instances of foreclosures under interim government policy.

The U.S. Supreme Court agreed to hear two Bank of America Corp. appeals that seek to give lenders more leverage over homeowners who file for bankruptcy protection.

A fine levied against a relatively small lender shows that capitulating to the demands of staff on matters of lawful loan officer compensation is not a risk worth taking.

With an eye on eliminating mortgage buybacks and adhering to increasing regulatory compliance obligations, mortgage lenders are redoubling their sales training efforts for both rookie and veteran loan officers.