Compliance

Mortgage servicers have failed to make significant investments in technology and compliance systems, resulting in substantial harm to consumers, according to a report issued Wednesday by the Consumer Financial Protection Bureau.

Industry and consumer groups are calling on the Federal Housing Finance Agency to reduce the loan fees that homebuyers have to pay on Fannie Mae and Freddie Mac guaranteed mortgage loans.

The ultimate approval of the CIT-OneWest merger by regulators represents a giant step backwards for the Community Reinvestment Act.

Brokers remain perplexed over how to strike a balance between helping borrowers shop for the best deal and maintaining compliance with the TILA-RESPA integrated disclosures. Specifically, how do brokers and wholesalers meet TRID's delivery deadline and accuracy requirements when a loan is resubmitted to a new lender?

Home Equity Conversion Mortgages can be a valuable retirement tool to older borrowers who qualify for the product, and lenders who shy from offering them are doing their clients a costly disservice.

The decline in homeownership can be stopped, and even reversed, by taking action on credit access, better evangelizing for down payment programs and offering borrower counseling.

U.S. prosecutors have abandoned their case against Angelo Mozilo, a pioneer of the risky subprime mortgages that fueled the financial crisis, after a two-year quest to bring a civil suit against him.

Costs for finishing Fannie Mae's new headquarters have increased $36 million without the knowledge of the Federal Housing Finance Agency employee responsible for monitoring the project, the agency's inspector general claims.

Fears about repurchase requests made by Fannie Mae and Freddie Mac persisted beyond the crisis, but those fears don't match actual repurchase numbers.

Delinquencies on non-owner-occupied commercial real estate loans ticked up in the first quarter after years of steady declines. Some are shrugging off the increase, saying it was expected given the strong demand for CRE loans, but others say there's good reason to be concerned.

Mortgage lenders, debt collectors and credit card companies have borne the brunt of the Consumer Financial Protection Bureau's public enforcement actions over the past four years, yet banks have paid the most in penalties and restitution, according to a new study released by an agency insider.

Mortgage lenders that embrace social media are going to great lengths to ensure their activities remain compliant with truth in lending regulations. But even lenders that shun social media must take steps to avoid marketing compliance risks.

Longstanding mortgage advertising rules are taking on new meaning in the age of digital marketing.

An executive from Regions Financial said recently that his bank plans to pad fee income by expanding into syndication of low-income housing credits. The comment shed light on an increasingly competitive business — and reminded the world again how eager banks are for even incremental boosts to revenue.

Formal guidance from the Consumer Financial Protection Bureau about investors' liability for errors on the upfront Loan Estimate disclosure could go a long way toward easing secondary market anxieties about purchasing mortgages with TRID errors.

The National Association of Realtors has called on the Consumer Financial Protection Bureau to make changes to the TILA-RESPA integrated disclosures' post-consummation timelines to provide more lenders wiggle room for rectifying errors.

The Department of Housing and Urban Development has reached an agreement with First-Citizens Bank & Trust Co. in Raleigh, N.C., to settle alleged fair lending violations.

Fearing that housing finance reform has fallen off the congressional priority list, bank and housing trade groups sent a letter to Federal Housing Finance Agency Director Mel Watt on Wednesday to draw attention to the issue.

TRID wasn't as hard on the wholesale channel as was once feared, but some parties involved in the process still either do not fully understand the rule or haven't perfected their operations to handle it.

Without the Consumer Financial Protection Bureau setting specific debt collection guidelines — including what technology agencies can use — the industry will continue a practice that harms consumers: lawsuits.