Compliance

Six Democrats whose support is crucial to a U.S. Senate plan to replace government-owned mortgage firms Fannie Mae and Freddie Mac have decided they won't support the proposal without major revisions, dimming its chances of becoming law this year.

Atare Agbamu promised his elderly clients that reverse mortgages were regulated to protect them and their spouses and heirs. Then he came across a HUD letter to lenders indicating otherwise.

The regulator's Office of the Inspector General says it should have issued formal guidance to Fannie and Freddie over their dealings with the MIs.

GoLoansOnline.com, a Houston-based mortgage lead generator, will pay $225,000 to settle Federal Trade Commission charges that it deceived consumers about the terms of their loans.

The government-sponsored enterprises remain profitable, but executives are raising fresh concerns about their ability to withstand a recession because of restrictions on raising capital.

Fannie Mae and Freddie Mac will pay the U.S. Treasury Department a combined $10.2 billion by June 30, an amount reflecting the profits the U.S.-owned mortgage financiers reported for the first quarter.

A New York mortgage banker and five others were indicted for their alleged roles in a $30 million property flipping scheme that defrauded lenders, investors and secondary market participants.

Mortgage debt held by the elderly has soared over the past decade, driven in part by the foreclosure crisis, the Consumer Financial Protection Bureau said in a report.

Lenders are touting these loans to independent originators as an alternative way to make money in a new regulatory environment where the qualified mortgage rule caps salespeople's pay.

The chief operating officer of the Federal Housing Finance Agency is facing a felony charge for threatening to kill the agency’s former top official, according to Washington, D.C. police and Superior Court records.

The fate of low-income and minority families under housing finance reform remains at the heart of negotiations over a Senate bill, highlighting a longstanding split between advocates pushing for affordable rental options and those urging access to homeownership.

Like other parts of the real estate finance business, appraisal management companies are dealing with increased costs and less income.

Homeowners who had a single point of contact at their mortgage servicer were twice as likely to receive and accept a mortgage modification and half as likely to be denied a modification, according to Fannie Mae.

The title giant is betting it can capitalize on growing demand for technologies that will help lenders stay competitive. The challenge will be doing so without getting stung itself by the industry's regulatory and volume problems.

Prices for loans underlying commercial mortgage-backed securities held steady over the past month, according to DebtX, which operates an online marketplace for loan sales.

The Senate Banking Committee continued negotiations over the weekend on landmark legislation to overhaul the mortgage finance system, but it still remains unclear when, or if, panel leaders will reschedule a key vote on the bill.

IntercontinentalExchange Group Inc. is pitching Wall Street on new derivative contracts allowing investors to wager on U.S. homeowner defaults, six years after subprime-mortgage swaps helped fuel the financial crisis, according to five people with knowledge of the matter.

New York City Mayor Bill de Blasio's initiative for 200,000 affordable housing units over 10 years calls for a $1 billion investment from the city's five public employee pension funds and the use of tax-exempt 501(c)(3) governmental purpose bonds to finance middle-income housing.

The Federal Housing Administration's new electronic signature policy contains confusing language that could stifle lender adoption, despite its good intentions, paperless-mortgage advocates warn.

What might work better would be clarifying guidance on mortgage insurance premium rules, the meaning of bona fide discount points, and the rules for affiliate compensation.