Compliance

Ocwen Financial reached a settlement with 10 states under which it can't acquire servicing rights for eight months but will not face any financial penalties.

Wells Fargo has agreed to "good faith class settlement negotiations" to resolve a lawsuit that alleges the bank was making "stealth" mortgage modifications that could vastly increase homeowners’ borrowing costs, according to a filing Monday in federal bankruptcy court in Charlotte.

Two bills that would boost protections for consumers taking out PACE home-improvement loans are headed to Gov. Jerry Brown’s desk after passing the Legislature.

Compliance experts and CU execs outline changes they still hope the Consumer Financial Protection Bureau will make, even as the rule's implementation date approaches.

Picking a new benchmark for adjustable-rate mortgages is the easy part. Industrywide implementation is where things get tricky.

PHH Corp. will pay the Justice Department $75 million to settle a False Claims Act investigation of its underwriting practices on government-insured mortgages and loans sold to Fannie Mae and Freddie Mac.

National Credit Union Administration Chairman J. Mark McWatters said dropping Consumer Financial Protection Bureau oversight of credit unions would free up CFPB resources.

The Trump administration's Justice Department was expected to be less aggressive in its pursuit of False Claims Act cases against the mortgage industry. Instead, its focus has shifted to Federal Housing Administration-insured reverse mortgages.

Financial firms say the database is unreliable and would like to see it removed from public view. But the industry would also lose access to competitive insights that can be gleaned from the massive trove of consumer complaints.

East Chicago, Ind., residents again are pushing for more oversight in the cleanup efforts at the U.S.S. Lead Superfund site, as plans are being circulated on the demolition of the West Calumet Housing Complex.

Fay Servicing will pay $1.15 million in borrower restitution and possible disgorgement to settle CFPB allegations that it engaged in so-called foreclosure dual tracking and failed to keep borrowers informed about loss mitigation efforts.

HSBC has fulfilled its obligation under the National Mortgage Settlement and will no longer be monitored for compliance.

Pittsburgh is considering offering bigger tax breaks for developers building affordable housing or creating businesses in depressed neighborhoods, but critics say the revamped abatement programs won't do enough to address a low-income housing shortage.

Lenders are feeling some relief on the regulatory front, but they still expect their compliance expenses to rise, according to a recent Lenders One survey.

The Federal Housing Finance Agency has revived the idea of putting a question on the loan application asking consumers what language they want to communicate in.

New York Gov. Andrew M. Cuomo signed legislation sending $2.5 billion to the construction and preservation of affordable housing, celebrating it as the start to his $20 billion plan to combat homelessness.

Philadelphia homeowners at risk of foreclosure over past-due property taxes could be given free housing counseling and have their debt deferred under a program being developed by City Council.

A yearlong battle in San Francisco City Hall ended Wednesday night when two factions on the Board of Supervisors reached a compromise on how much affordable housing to require in new market-rate developments.

U.S. prosecutors working to convict three former Nomura Holdings Inc. mortgage-bond traders are trying to convince jurors that lying about prices amounts to fraud.

Reverse mortgage lender Financial Freedom has agreed to pay $89 million to settle False Claims Act allegations involving unearned interest payments it received from the Federal Housing Administration.