Compliance

The consumer relief data sent to the mortgage settlement monitor show that within the first year since servicers signed the agreement they have distributed $50.63 billion in direct relief to customers.

All eyes are on Texas legislators who in the next few days will determine how the state may use roughly $124.7 million in national mortgage settlement while some insiders worry about potential diversions.

Fannie Mae and Freddie Mac are exempt from Michigan’s state and local real estate transfer taxes, a U.S. appeals court ruled.

Fay Servicing is seeking to hire experienced mortgage professionals living in the greater Chicago area.

Home equity lines of credit increased almost 16% in February 2013 compared to the same month a year ago, rising to $12.4 billion from $10.7 billion.

The lowest credit score which is supposedly available for loans to meet the Federal Housing Administration program standards is 580.

Wells Fargo and Citigroup have halted the vast majority of their foreclosure sales in multiple states following the release of new guidance by the Office of the Comptroller of the Currency.

New York Attorney General Eric Schneiderman is revising his allegations of foreclosure settlement violations by Wells Fargo and Bank of America.

The qualified mortgage rule is a special carve-out to the ability to repay requirement.

The Consumer Financial Protection Bureau has taken an enforcement action against a Dallas builder who allegedly referred customers to local mortgage lenders and received illegal kickbacks.

Republican senators are becoming suspicious of the huge amount of consumer data the Consumer Financial Protection Bureau is buying and collecting.

A court found a recess appointment to the National Labor Relations Board was unconstitutional. This could affect the Consumer Financial Protection Bureau.

We're hearing that it is going to take a concerted industry effort to get a legislative fix for the QM rule on loan officer compensation.

Wells Fargo and Citigroup have halted the vast majority of their foreclosure sales in multiple states following the release of new guidance by the Office of the Comptroller of the Currency.

The commission ordered Thomas Richter and Girard Finance Co. to cease discriminatory lending practices and pay a total of $668,951 to seven borrowers for damages plus humiliation and suffering.

New compliance requirements don’t typically inspire the most innovative technology enhancements in the mortgage industry. But the upcoming overhaul of borrower disclosure forms has created an opportunity to re-engineer the way lenders and title companies execute mortgage closings, according to Document Systems Inc. CEO Dominic Iannitti.

In the past two years, 85% of Hispanics were engaged in online banking, compared to 74% of all U.S. households.

LendingQB has put the guidelines from four of the six private mortgage insurers onto its loan origination system’s automated underwriting engine.

A large bid list of nonagency residential mortgage-backed securities in the market this week may have been the first move in a regulatory plan for Fannie Mae and Freddie Mac to divest some of its portfolio assets.