Enforcement

Bankers and commercial real estate developers are protesting new restrictions on construction lending, arguing they are poised to hurt credit availability and drive loans into risky, unregulated sectors.

A recent critique of the CFPB's enforcement action against an alleged loan officer point bank run by RPM Mortgage perpetuates misinformation that only serves to undermine the policies and practices of responsible lenders.

The U.S. Attorney's Office for the Eastern District of California has indicted Robert Farrace of Modesto, Calif., on charges of wire fraud in connection to a short-sale scheme.

Pressure from community groups forced Valley National Bancorp to strengthen its commitment to lend in low- and moderate-income neighborhoods in order to win approval for a Florida acquisition. Other banks, too, are now placing CRA efforts front-and-center as they aim to sell deals to the public and their regulators.

The Consumer Services division of Washington state's Department of Financial Institutions has accused Quicken Loans with sending false claims in direct mail advertising to military members.

A U.S. District Judge sentenced a New Jersey man for his role in a $15 million mortgage fraud scam.

FHA tries to clarify what loan defects will bring the harshest penalties to guide lenders and instill more confidence.

A technical error made by the Consumer Financial Protection Bureau has become a saving grace for lenders who had pushed, begged and pleaded for more time to comply with a new mortgage disclosure rule.

It turns out the Consumer Financial Protection Bureau's failure to file a two-page form to Congress on time was the unspecified "administrative error" that delayed the effective date for new mortgage disclosure rules.

WASHINGTON — After months of declining industry and congressional pleas to delay an impending rule combining two mortgage disclosure regimes, the Consumer Financial Protection Bureau on Wednesday announced a two-month delay due to an "administrative error."

Six servicers were cited for a range of infractions, including a failure to respond to requests for loan modifications and not doing enough to prevent foreclosures. Punishment was harsh for Wells Fargo and HSBC, which are banned from acquiring mortgage servicing rights and entering into new servicing contracts.

Six banks including JPMorgan Chase and Wells Fargo have been placed under further business restrictions after the Office of the Comptroller of the Currency determined they had yet to fully meet regulatory orders related to the independent foreclosure review which began in 2011.

A Virginia man on Monday pleaded guilty to federal charges tied to bogus real estate transactions conducted between 2006 and 2007.

More than a year after the CFPB revamped its employee rating system following allegations of discrimination Equal Employment Opportunity complaints have surged and the agency faces ongoing accusations of bias and retaliation against workers who speak out.

California Gov. Jerry Brown violated state law by diverting more than $331 million in mortgage settlement funds for uses unrelated to housing, a Superior Court judge ruled.

Several House lawmakers joined the call Thursday for a formal grace period for new mortgage disclosures that would go beyond an earlier decision by the Consumer Financial Protection Bureau.

Ocwen Financial's sale of mortgage-servicing rights should generate sufficient liquidity for the Atlanta company to meet its debt-payment obligations, Moody's Investors Service said.

More than a dozen housing groups are urging lawmakers to pass legislation that would grant lenders a formal grace period for implementing new disclosure forms later this summer, arguing that the industry needs greater certainty than the Consumer Financial Protection Bureau has so far provided.

Two recent settlements show how far the Consumer Financial Protection Bureau is willing to go to pursue lenders it believes skirted the loan officer compensation rules.

The Louisiana Real Estate Appraisers Board said Coester Appraisal Management Group did not violate state law for failing to pay appraisers "customary and reasonable" fees, and that its executive director "misspoke" about a stipulation and order with the AMC.