Law and regulation

If California voters approve Proposition 10 in November, the ramifications will be felt on the state's affordable housing, according to the Mortgage Bankers Association.

The mortgage industry is calling on the Consumer Financial Protection Bureau to revise its Loan Originator Compensation rule in favor of better protection for consumers and lesser regulatory burdens for lenders.

The bureau's findings and request for information came after acting Director Mick Mulvaney had cited data security as a flaw at the agency.

The CFPB's move is in line with the other banking regulators who have offices in Atlanta.

Advocates are seeking more federal funding for affordable housing. A federal investigation into the banks’ alleged manipulation of a popular tax-credit program can’t be helping their cause.

New Jersey Governor Phil Murphy signed a bill to revise the state's Residential Mortgage Lending Act to facilitate transitional licensing for loan officers and to streamline the law's provisions for borrower fees.

The Congressional Budget Office has found that restructuring the mortgage market would save the government billions of dollars but may increase the cost of housing.

A Minnesota Supreme Court decision that upholds limits on how much communities can charge developers is being hailed as a major victory for those who argue that such fees are making housing in the Twin Cities unaffordable.

Proposals to force Bay Area cities to allow housing development at BART stations and to help those squeezed by the new federal cap on tax deductions were among the bills to survive the latest round of cuts Thursday at California's Capitol.

The CFPB made changes to a rule that allows financial firms to be exempt from sending annual privacy notices to customers if they meet certain conditions.