Compliance

San Antonio Mayor Julian Castro is in line to head the Department of Housing and Urban Development, part of an administration reshuffling that would bring a Democratic up-and-comer to President Obama's cabinet.

Genworth Financial announced Thursday that its Australian mortgage insurance business will raise about $535 million in an initial public offering.

The normally even-keeled moderate Sen. Mark Warner warned fellow Democrats voting against a housing finance reform that when Fannie and Freddie need another taxpayer bailout, it will be their fault.

Democratic lawmakers on the Senate Banking Committee sounded off against bipartisan legislation to overhaul the mortgage finance system on Thursday, opposition that likely all but ruins the bill's chances of making it to the chamber floor this year.

Buyers still exist for mortgage platforms. The problem is that the gap in pricing expectations for buyers and sellers has widened since refinance activity stalled last summer.

As the market slows for post-downturn, private-label, residential mortgage-backed securities—known as RMBS 2.0—an industry group thinks it's time to start preparing for version 3.0.

The Senate Banking Committee passed major legislation to overhaul the housing finance system on Thursday.

Some words of advice to pass on to your referral sources and clients about the post-underwriting checks now in place.

The dim prospects for Congress doing anything to overhaul the system dominated by Fannie Mae and Freddie Mac leaves a host of big questions about what happens to the mortgage sector going forward.

Residential Capital, the defunct mortgage company, sued Bank of America, RBC Mortgage Co. and other lenders, claiming they sold it poor-quality loans that led to its bankruptcy.

The government-sponsored enterprises just went a long way toward encouraging lenders to make more loans to borrowers with lower credit scores.

The agency is developing a new methodology for evaluating underwriting defects to give lenders a better handle on the risk posed by any given flaw in a loan file.

Home prices nationwide jumped by 11.3% in the fourth quarter from a year earlier, according to an analysis released Tuesday by CoreLogic.

Freddie Mac, which along with Fannie Mae has forced home lenders to buy back tens of billions of dollars of flawed mortgages, said the companies are loosening rules that made banks more cautious about extending credit.

The Federal Agricultural Mortgage Corp. reported a decline in first-quarter profits driven largely by the early refinancing of agricultural securities.

The Senate Banking Committee will renew its markup of legislation to overhaul the housing finance system on Thursday, after abruptly postponing the deliberations late last month.

Lenders and loan officers are increasingly using social media to scout for customers, raising a host of compliance concerns, from preventing unauthorized use of brands to monitoring employee communications.

Credit card telemarketers allegedly “went off script” in describing the benefits and charges of credit protection plans to coax consumers into receiving them. The move has implications for loan officers.

The Senate Banking Committee is said to be moving toward a vote on major housing finance reform legislation next week, but the effort is likely to attract no more than 13 votes, falling short of what would be needed to advance the bill to the Senate floor this year.

Kroll Bond Rating Agency released a new monthly credit report to monitor the performance of commercial mortgage-backed securities.