Enforcement

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.

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.

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 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.

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.

The Federal Deposit Insurance Corp. has reached a $190 million settlement with eight large financial institutions over residential mortgage-backed securities claims as the receiver of five banks that failed during the crisis.

KeyCorp's $4.1 billion bid to buy First Niagara Financial Group Inc. is facing scrutiny over a U.S. investigation into First Niagara's minority lending practices, according to two people familiar with the matter.

The Consumer Financial Protection Bureau and other federal banking agencies should do more to protect consumers with limited English proficiency, a report from Americans for Financial Reform says.

JPMorgan Chase has received credit for $3.89 billion of consumer relief, plus it says it has provided an additional $113 million, putting the bank over the top on its obligation.

The Department of Housing and Urban Development is telling lenders that down payment assistance programs still qualify for FHA backing despite concerns raised last year by HUD’s inspector general.

Wells Fargo & Co. agreed to pay a $70 million penalty in ending the bank’s five-year fight to settle legal claims over foreclosure missteps after the 2008 credit crisis.

The U.S. Securities and Exchange Commission is investigating whether Deutsche Bank AG inflated the value of securities in its mortgage-bond trading business and masked losses around 2013, according to people with knowledge of the matter.

Bank of America Corp.’s Countrywide Financial unit was exonerated of allegations that it sold defective residential mortgage loans to Fannie Mae and Freddie Mac with an appeals court throwing out a judgment against the bank of more than $1.2 billion.

Two recent court rulings affirmed that lenders can enforce electronically signed and transferred notes, laying important groundwork for wider adoption of electronic mortgage technology that could improve the customer experience for borrowers and save lenders and servicers a bundle.

The Federal Deposit Insurance Corp. on Thursday won the right to pursue a lawsuit against several large financial institutions accused of selling tainted mortgage securities to a company that has since failed.

New York's financial regulator has issued subpoenas to two companies with ties to Apollo Global Management as part of an inquiry into housing transactions for low-income buyers.

Credit access and homeownership for low- to moderate-income families are under siege by the DOJ's overuse of the False Claims Act, as lenders worried about punitive damages discontinue Federal Housing Administration loan programs.

The Consumer Financial Protection Bureau will propose changes in late July to its mortgage disclosure rule to provide "greater certainty and clarity" to the mortgage industry.

Ocwen Financial Corp. has fulfilled its consumer relief obligation under the National Mortgage Settlement ahead of schedule. But that doesn’t mean it’s in the clear yet.