Compliance

Once written off as an endangered species, nonbank home lenders are making a comeback in the third-party origination businesses abandoned by banks since the financial crisis.

Here is a list of 18 items loan officers should consider when talking with their current or future employers, including who owns the database.

The rapid growth and increasing regulatory scrutiny of nonbank mortgage servicers could "severely" affect the whole industry, Mortgage Bankers Association Chairman-Elect Bill Cosgrove says.

The volume of complaints lodged by distressed borrowers to four of the largest U.S. banks has stabilized, the monitor for the national mortgage settlement says.

Steven Antonakes, the CFPB's deputy director, gave a speech which indicated the agency has shifted to a hard-line stance regarding compliance with a new mortgage servicing rule that went into effect last month. 'Business as usual has ended in the mortgage servicing industry,' he said.

The largest U.S. bank's apartment loan business is mushrooming, aided by Fannie Mae and Freddie Mac retrenching. Now JPMorgan is refocusing on a market where, surprisingly, it lags: New York.

The company, started in 2010 after the mortgage crisis, wrote $4.5 billion of new insurance in the fourth quarter, only about $400 million less than market veteran Genworth.

The new master policy rules affects the relationship with the mortgage lender.

Tom Barrack’s Colony Capital is teaming with two other single-family rental-home landlords to offer as much as $1 billion in loans to similar operators this year, said three people with knowledge of the agreement.

Platinum Data Solutions has completed an initial round of accuracy testing on the 18 automated valuation models that it resells to lenders and servicers.

The Community Home Lenders Association is concerned the high fees will be more of a drag on home purchase volume as interest rates rise.

Appraisal management company and property asset manager LRES restructured its REO department by assigning separate teams of employees to distinct tasks across the property disposition lifecycle.

Prospect Mortgage entered a $3.1 million settlement with California regulators for overcharging mortgage borrowers per diem interest over a seven-year period.

Thousands of lenders post oceans of data each year to meet Home Mortgage Disclosure Act obligations. There may be more reporting requirements coming. Will the value of the new transparency outweigh the added compliance burden to lenders?

A jury found a particular loan officer was exempt from minimum wage/overtime requirements because her work involved "outside sales," but the case's decision fails to broadly apply to all LOs.

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The mortgage tech vendor is trying to maintain profits by signing and upgrading customers. The headwinds it faces reflect broader industrywide challenges: lower origination volume and new compliance requirements.

A Tampa homeowner is suing Bank of America and U.S. Bancorp, claiming that the banks delayed processing his mortgage payments in order to earn extra interest for themselves.

New York State approved an agreement between bond insurer MBIA and Nomura Holdings that ended claims related to mortgage-backed securities.

Ocwen Financial Corp. is seeking to raise about $136 million by selling notes tied to fees from managing a pool of government-backed loans.