Law and regulation

Some products are being revised while others are seeing greater interest as lenders look to remain under the 3% fee cap.

The case involved a lender leasing space in a bank office with the rental fee allegedly based on loan production.

The complexity of regulations and the potential for updates or new guidelines renders static documents inefficient and inflexible.

A continuing stumbling block is that Fannie Mae and Freddie Mac are unhappy about having their liens on properties subordinate to PACE loans, a DBRS executive said at ABS West.

The registry is not entitled to be notified of a pending tax lien sale, the ruling states.

Fannie Mae had brought claims against New York-based Lehman over mortgages the bank packaged and sold. The agreement resolves one of the “single largest remaining claims” against the Lehman parent.

Federally insured credit unions with assets of $50 million-plus and concentrations in real estate loans would have to maintain additional capital requirements under the National Credit Union Administration proposal.

Forecasts generally call for slower home price gains that could reduce volatility but also investment returns when it comes to securitization valuations. Some recently-hot markets like California are topping out.

This is the smallest monthly gain in almost two years and suggests the real estate recovery is losing strength.

In the past few years a handful of online lenders have emerged to capture 10% origination share.

Title agents have felt some residual heat from new rules, and they will directly feel the burn if the Consumer Financial Protection Bureau points a blow-torch at the closing process.

Housing Finance Agencies across the U.S. are rapidly expanding to restore the fading dream of homeownership.

The Patchogue, N.Y.-based mortgage lender is using a new platform to enhance service, sales and compliance.

QM rule will have little effect on loan products, executives say.

LoanLogics is rolling out a management platform that helps improve performance and seeks zero defects.

Wells Fargo & Co., the biggest U.S. home lender, agreed to sell about 2% of its residential servicing portfolio, or about 184,000 loans, to Ocwen Financial Corp. as it tests the market.

A local lender must pay an $81,000 fine. This is three times the origination fees charged the 20 consumers solicited through its office lease relationship with a local community bank.

A Santa Clara County Superior Court judge is making three major companies pay approximately $1.1 billion to remediate lead paint used in the interior of homes built before 1978.

The new tool enables loan originators to not only ensure the loans comply with CFPB requirements before the loan application enters the system, but also offers a detailed compliance worksheet for loan officers.

Urban Institute researchers urge the agency to review its impact in 30 census tracks.