Compliance

A coalition of advocacy groups announced their opposition Friday to a bill by Senate Banking Committee leaders to overhaul the housing finance system, citing concerns about market access for low-income and minority families.

The former owner of a New York mortgage loan modification business was sentenced Friday to serve nine years in prison for defrauding hundreds of distressed homeowners and their lenders.

The Federal Agricultural Mortgage Corp. (AGM) plans to sell $75 million worth of preferred stock in a public offering.

Lenders and servicers are worried about the cost of dealing with widows and widowers who didn't sign the mortgages if they can't be foreclosed upon.

When a lawyer wields a regularly updated, 150-page compliance manual as evidence against a mortgage servicer, it's more important than ever to make sure company documents are heavy on details.

Lenders won't be getting an eighth active mortgage insurance underwriter to choose from after all. But they may get repaid faster on claims from a carrier that's been winding down.

The Federal Housing Finance Agency, Fannie Mae and Freddie Mac will suspend work on the Uniform Mortgage Servicing Dataset to conduct a fact-finding exercise to identify broader data standardization needs in the servicing industry.

The slowdown in housing since the middle of last year reflects a pickup in borrowing costs, declining affordability, limited job growth and, more recently, bad weather.

For the first time since the financial crisis of 2008, consumers are prioritizing their mortgages ahead of their credit card payments, according to TransUnion.

As home equity lines of credit hit the five-year mark and borrowers have to start repaying principal, lenders might have to modify these second liens to avert defaults.

Details in recent legislation unveiled by Sens. Tim Johnson and Mike Crapo are stoking fresh concerns among Fannie Mae and Freddie Mac shareholders now embroiled in lawsuits over their share of profits from the mortgage giants.

The best thing to happen to the business over the last three decades was the development of the secondary agencies' automated underwriting engines. The worst? There are several strong contenders….

The vendor thinks it can meet lenders' needs by creating a system which manages the various tasks that must be completed to move a loan through the origination pipeline.

A court hearing this week could force housing officials to clarify a longstanding gray area in the reverse mortgage business: When the borrower dies, can the lender foreclose on a surviving spouse not named in the loan?

Two House Democrats joined Sen. Elizabeth Warren in asking for a meeting with Attorney General Eric Holder about an inspector general's finding that his department's focus on mortgage fraud has not been as strong as advertised.

In the current tough mortgage environment, some lenders are willing to take the risk of lending to foreign nationals. The loans don't conform to regulations that took effect in January and typically are held on banks' balance sheets.

The Senate Banking Committee has forged a strong bipartisan agreement to reform the housing finance market, but how—and whether—that effort gets picked up in 2015 is still very much in question.

Borrowing short and lending long, which crashed the thrift market in the 1980s, and lowering underwriting standards, which crashed the mortgage market in the last decade, are rearing their heads again.

The Senate passed revised legislation Thursday that would delay increases in flood insurance premiums, following the House's vote advancing the bill last week.

Bank of America Corp.'s Countrywide unit and the U.S. sparred in court over whether the bank owes as much as $2 billion—or nothing—for selling thousands of defective mortgage loans to Fannie Mae and Freddie Mac.