Law and regulation

Ocwen Financial raised less than underwriters expected by selling bonds tied to fees from managing government-backed loans as the mortgage servicer’s shares fell to the lowest since December 2012.

The Mortgage Bankers Association is trying "to get the regulators to just be aware of where one rule conflicts with another," says the trade group's president, David Stevens.

The rapid growth and increasing regulatory scrutiny of nonbank mortgage servicers could "severely" affect the whole industry, Mortgage Bankers Association Chairman-Elect Bill Cosgrove says.

The volume of complaints lodged by distressed borrowers to four of the largest U.S. banks has stabilized, the monitor for the national mortgage settlement says.

"Servicers now face compensatory fees, not for mistakes or unreasonable delays, but simply as the cost of doing business," Mortgage Bankers Association President David Stevens says.

The Community Home Lenders Association is concerned the high fees will be more of a drag on home purchase volume as interest rates rise.

Prospect Mortgage entered a $3.1 million settlement with California regulators for overcharging mortgage borrowers per diem interest over a seven-year period.

Thousands of lenders post oceans of data each year to meet Home Mortgage Disclosure Act obligations. There may be more reporting requirements coming. Will the value of the new transparency outweigh the added compliance burden to lenders?

A jury found a particular loan officer was exempt from minimum wage/overtime requirements because her work involved "outside sales," but the case's decision fails to broadly apply to all LOs.

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The mortgage industry has always been an adrenaline junkie, getting its thrills by riding the highest roller coaster it can find and hoping the landing will be soft this time. What if you could smooth out the highs and the lows?

GSE regulator says Fannie and Freddie are responsible for monitoring servicers.

A New York startup vows to reduce risk and bring transparency and regulatory oversight to a much-hyped investment class.

Canadian covered bonds now benefit from increased disclosure about the mortgages behind them and more certainty about recourse to the cover pool in the event of a default. But so far, this broader appeal hasn't resulted in increased issuance.

Finding a compliance mistake is likely to endear you to them and help drive referral business.

Education is a big part of Siomara Barboza's job, whether it's showing her largely Hispanic clientele how to build credit histories or helping referral sources understand the qualified mortgage rule.

Housing and Urban Development Secretary Shaun Donovan says it's important for investors in mortgage-backed securities to receive a fair price for seized mortgages.

Fannie Mae and Freddie Mac lack consistent policies on charging late fees on outstanding loan repurchase requests, creating an uneven playing field in the mortgage market, according to an inspector general report.

Looming court battles over the fate of Fannie Mae and Freddie Mac are a key reason why lawmakers must act soon to pass housing finance reform, Housing and Urban Development Secretary Shaun Donovan said Wednesday.

With single-family credit tight, multifamily lending remains hot, but its fate also depends largely on public policy. Fortunately for Pru, this part of its multifamily business is run by Paige Warren, a woman with government experience, ties and insight.