Compliance

Inaccurately insured homes can cost mortgage servicers millions of dollars in civil penalties — a loss that can be prevented by better understanding the figures and analysis used to determine the correct cost of insurance needed.

Nonperforming loan investors will have to consider principal reductions and offer more sustainable loan modifications.

As the mortgage industry swings more toward purchase loans and away from refinancings, its risk from material misrepresentations increases.

Loan application defect risk continued to decline in May, according to First American Financial Corp.

The Little Rock, Ark., bank got the final regulatory approval it needed to buy C&S and C1, but not before agreeing to address some community reinvestment concerns in the Atlanta market and elsewhere.

BancorpSouth Bank agreed Wednesday to a $10.6 million settlement with the Consumer Financial Protection Bureau and the Justice Department for allegedly discriminatory mortgage lending practices that harmed minorities.

The Supreme Court agreed Tuesday to hear a case regarding a clause in Fannie Mae's corporate charter that awards jurisdiction over every case involving the government-sponsored enterprise to federal courts.

The Federal Housing Finance Agency wants mortgage servicers reaching out to delinquent borrowers to be exempt from tough restrictions on robo-calling. But the idea is being panned by consumer groups, who say it would give a free pass to mortgage servicers that have a record of consumer-protection violations.

The Consumer Financial Protection Bureau is keeping lenders in the dark about how it will ensure borrower data is secure and private under the expanded Home Mortgage Disclosure Act reporting requirements.

The Federal Home Loan banks of Topeka and San Francisco have signed up to participate in a Mortgage Partnership Finance program that pools and securitizes government-backed loans via Ginnie Mae.

Fitch Ratings has updated its new loan level due diligence residential mortgage-backed securities grading methodology to include compliance grading related to the TILA-RESPA integrated disclosure rules.

The Supreme Court on Monday agreed to hear an appeal by Wells Fargo and Bank of America in a lawsuit brought by the City of Miami to determine whether the city can seek redress for lost tax revenue from allegedly predatory mortgages.

LendingTree is rolling out a new tool designed to help lenders identify borrowers who meet Community Reinvestment Act criteria.

Big banks have drastically reduced their share of the Federal Housing Administration market, a massive shift that has big implications, according to new analysis by the American Enterprise Institute.

Suffolk Bancorp said increased oversight of commercial real estate contributed to — and may have accelerated — its decision to sell to People's United. Other banks could make a similar choice.

The deadline has arrived for mandatory submissions to the Federal Housing Administration's Electronic Appraisal Delivery portal, but as many as one-third of lenders that originate FHA-insured mortgages have yet to use the new system.

The market gyrations following the United Kingdom's vote to leave the European Union have an upside for mortgage lenders, as already-falling interest rates are expected to boost home purchases and refinancing.

Ten banks have invested a total of $25 million in the fund, which buys up mortgage-backed securities tied to loans made for the development or rehabilitation of affordable single- and multi-family homes.

The U.S. government's decision to take all profits from Fannie Mae and Freddie Mac was the right thing to do even in light of the companies' subsequent return to profitability, a former Treasury Department official said..

Ocwen Financial Corp. has agreed to a $30 million settlement in two lawsuits alleging that the West Palm Beach, Fla.-based company violated the False Claims Act.