Enforcement

Lenders could face tougher enforcement and higher penalties if they make errors on the new mortgage disclosure forms that are slated to go in effect next August.

Embattled nonbank servicer Ocwen took a $100 million charge for a potential settlement of foreclosure violations and posted a third-quarter loss, but warned the final cost to settle allegations that it backdated foreclosure notices could be higher.

The Supreme Court is slated to hear arguments Tuesday in a case that could determine when and how borrowers are allowed to cancel their mortgages.

In a surprise victory for mortgage servicer PHH Corp., a California judge overturned a $16.2 million jury verdict awarded to a California homeowner in July for a botched loan modification.

The court asked another governmental entity to remedy the plight of non-borrowing spouses facing foreclosure. So far options appear to give few consumers relief.

Bank of America Corp. Chief Executive Officer Brian T. Moynihan, who was named chairman this month, said legal costs stemming from defective mortgages are largely behind it.