Compliance

Ginnie Mae is paying particular attention to nonbank servicers due to the same concerns an inspector general has raised about servicing transfers involving Fannie Mae and Freddie Mac loans.

Freddie Mac bought insurance to cover as much as $285 million of losses on a pool of U.S. home loans, in its third and largest such purchase under a risk-sharing effort encouraged by its regulator.

The nomination deadline for the 2014 Mortgage Technology Awards has been extended until 6 p.m. EDT Thursday, July 10. Click Here to Enter.

Merscorp must face a trial to determine how much it owes Pennsylvania counties for shortchanging them on mortgage recording fees, a judge ruled.

Lenders hope to earn bigger profits by originating loans that fall outside the qualified mortgage guidelines, for which they can charge borrowers significantly higher interest rates, but legal risks remain.

The massive growth of nonbank mortgage servicers poses risks to Fannie Mae and Freddie Mac, according to a report from the Federal Housing Finance Agency's inspector general.

As home prices rise and municipalities scrounge for revenue, rising property taxes make it harder for loan applicants to meet regulatory debt-to-income ratio limits and increase default risk on existing mortgages.

Loan officers have traditionally been on an island with borrowers, with little management involvement in an originator’s communications with clients. Increasingly, lenders need to think about systems and/or protocols to ensure that such communications are handled properly.

Private mortgage insurers will be required to have master policies that meet new guidelines in place by Oct. 1, according to announcements this week from Fannie Mae and Freddie Mac.

The number of home retention actions taken by the largest banks in the first quarter was more than three times the amount of completed foreclosures, short sales and deed-in-lieu-of-foreclosure, according to a regulatory report released Thursday.

Unless the industry is content to be a boutique player with a hugely smaller pool of potential borrowers, it had better emulate the Fed and ease on down the road.

The Senate Banking Committee approved Julian Castro, the mayor of San Antonio, on Wednesday to head the Department of Housing and Urban Development.

In light of new regulations, servicers need to take a fresh look at their servicing file tools, processes, policies and procedures.

Fannie Mae and Freddie Mac suffered "significant financial harm" from "excessively-priced" force-placed insurance, an inspector general's report says, advising their regulator to assess whether to sue banks and insurers for damages.

Wholesale lenders are capping broker compensation at 2.75%, below the CFPB's 3%, adding another "overlay" above and beyond regulatory requirements. Some say borrowers are being shut out as a result.

The CFPB has opened a back door by accusing a lender of engaging in unfair and deceptive acts in connection with originating loans that the borrowers could not "afford."

Bank of America failed to win dismissal of two government lawsuits in which it’s accused of misleading investors about the quality of loans tied to $850 million in residential mortgage-backed securities.

The House Financial Services Committee approved legislation Friday to extend and modify the Terrorism Risk Insurance Act.

A new analysis by TransUnion gauges just how much the reporting of on-time rental payments can improve consumers' credit scores, especially for those with blemished credit.

New players have entered the field and are vying for lenders' business, but pressure on pricing is marginal and no company's market share position has changed drastically.