Law and regulation

The House approved a bill Monday evening to modify the calculation of certain "points and fees" under the Consumer Financial Protection Bureau’s qualified mortgage rule.

By obtaining a third-party opinion that provides a reasoned analysis supporting borrowers' ability to repay, a lender places itself in a substantially stronger position with respect to subsequent ATR claims.

Lenders are seeking fixes to a proposal by the Consumer Financial Protection Bureau that would allow institutions to repay points and fees that inadvertently exceeded the "qualified mortgage" rule.

A reported $12 billion settlement with federal and state authorities could force Bank of America to take a charge eating up most of its second-quarter profits. After that, the bank may finally get to move on.

Economic growth will rebound in the second quarter, averaging 3.1% over the next six quarters, but the housing market may not be as strong due to constraints on lending, according to bank economists.

Doral Financial Corp., the holding company for Puerto Rico's second-largest mortgage lender, sued the island's government for voiding a 2012 agreement to pay a $230 million tax refund.

New York's banking regulator said Thursday that he intends to simplify state requirements for obtaining a mortgage banking license.

Prosecutors have probable cause to present a grand jury with the felony case against the Federal Housing Finance Agency official accused of threatening to kill former director Edward DeMarco, a judge ruled.

Executives at private mortgage insurers expect the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, to reduce some fees in the next year, which would make privately-insured GSE loans more competitive with government loans.

Builders have noticed some easing of mortgage credit standards recently, but not enough to make a meaningful difference on the housing recovery.

Ocwen Financial Corp. will no longer require distressed borrowers involved in litigation with the mortgage servicer to sign nondisparagement agreements as a condition for receiving a loan modification, New York's banking regulator said Wednesday.

While lenders do not survey applicants on sexual orientation for their Home Mortgage Disclosure Act reports, a look at the data on same-sex couple applicants is intriguing.

An appeals court on Wednesday voided a controversial decision in 2011 by New York Judge Jed S. Rakoff, saying he erred in scuttling a $325 million settlement between the Securities and Exchange Commission and Citigroup.

Fairholme Capital Management sold $51 million in the common shares of mortgage financiers Fannie Mae and Freddie Mac to activist investor Carl Icahn, according to a court filing.

The Senate Banking Committee approved legislation Tuesday to extend the Terrorism Risk Insurance Act, a program due to expire at yearend. It also considered making a legislative fix to the Dodd-Frank Act. Here’s what happens next.

The Senate Banking Committee approved a bill Tuesday to reauthorize the Terrorism Risk Insurance Act for seven years.

The Supreme Court agreed last month to resolve a stark divide in the United State Courts of Appeals regarding the time bar for residential mortgage borrowers to file suits related to mortgage loan rescissions under the Truth in Lending Act.

Further lender-placed insurance reform is part of new Federal Housing Finance Agency Director Mel Watt's strategic plan, likely shifting the balance between business and borrower interests back toward consumers.

Fannie Mae and Freddie Mac were sued by Massachusetts for allegedly failing to comply with a state law that lets nonprofit organizations buy foreclosed homes to sell them back to their former homeowners.

NBT Bancorp in Norwich, N.Y., has prepaid about $165 million in long-term borrowings from the Federal Home Loan Bank.