Compliance

The Mortgage Partnership Finance Direct program will now accept larger jumbo mortgages and a wider variety of products including hybrid adjustable rate mortgages, the Federal Home Loan Bank of Chicago and Redwood Trust said Monday.The partners said that the program would accept jumbos of up to $2. 5 million, a boost from the previous $1.5 million limit.

Uncertainty about what constitutes a TRID error has had a direct impact on independent mortgage bankers. But some warehouse lenders that provide those originators with interim funding have also been affected by the liquidity concern, taking on increased risk exposure.

The Senate approved a bill Thursday by unanimous consent that includes major reforms to the Federal Housing Administration condominium loan program and the Rural Housing Service loan program.

Upcoming risk retention requirements may be the proverbial straw that breaks the back of the commercial mortgage-backed securities market.

The $140 billion-asset company disclosed Thursday in a regulatory filing that the Federal Reserve Board downgraded its Community Reinvestment Act rating to "needs to improve."

Republican lawmakers put Department of Housing and Urban Development Secretary Julian Castro on the hot seat Wednesday, criticizing his decision to allow nonprofit community groups to bid on more nonperforming Federal Housing Administration loans.

The debate over a Republican bill to overhaul the Dodd-Frank Act is increasingly focused on two widely different philosophies about capital regulation, which were both on display at a hearing Tuesday.

At the end of 2015, there were at least 48 bills pending before Congress that sought to change, defund, or otherwise weaken the Consumer Financial Protection Bureau. None of them passed.

Now that privately insured credit unions finally can join the Federal Home Loan Bank System, will more federally insured state charters consider converting to private insurance?

While many depositories do just enough mortgage lending to low- to moderate-income borrowers to meet statutory requirements, The Federal Savings Bank has made it a backbone for growth.

Although the Consumer Financial Protection Bureau doesn't mandate doing so, lenders' best chance to stay compliant with future data initiatives and regulatory changes is to implement standards set by the Mortgage Industry Standards Maintenance Organization.

The House approved a spending bill Thursday that would change the structure of the Consumer Financial Protection Bureau and take away the Financial Stability Oversight Council's power to designate nonbanks as systemically important.

Freddie Mac is on track to issue mortgage-backed securities via a common securities platform by the end of this year, according to the Federal Housing Finance Agency.

Quontic Bank, a Community Development Financial Institution in New York, is offering a product reminiscent of crisis-era no-doc and low-doc loans. But does this "Lite Doc" loan carry the same risk?

Good intentions won't lower costs, improve workflow or maintain compliance. Decision-makers need to put their money where their mouths are when it comes to implementing technology to keep costs down, improving workflow and maintaining compliance.

The Consumer Financial Protection Bureau recently dressed down the mortgage industry for failing to innovate. Here are 10 tech ideas from the National Mortgage News team that could improve efficiency, margins and the industry's image among growing demographics. Some might sound farfetched, but so do most great inventions at first. Dream big.

Lenders don't need to worry about meeting new requirements for getting tax transcripts from the Internal Revenue Service heading into the holiday weekend.

The scheme is used by borrowers who don't have enough income to qualify for a regular mortgage, so they apply for a higher rate non-owner-occupied loan.

The Federal Housing Finance Agency’s first report on the sales of nonperforming loans owned by Fannie Mae and Freddie Mac may seem discouraging at first.

Berkshire Hills Bancorp is buying a bank with a national mortgage platform. The company hopes the business will provide a much-needed lift in fee income.