Law and regulation

Richard Cordray’s comments appeared directed at bankers who have complained in recent months that vendor delays could interfere with their ability to comply with QM rules set to go into effect in January.

NAMB annual hears the current compensation on most mortgages will be maintained. That makes a lot of brokers very happy.

Comptroller of the Currency Thomas Curry stresses need for longer-term counseling for borrowers with loan modifications.

FHFA Acting Director Ed DeMarco has been vague about why the regulator rejected Fannie’s force-placed proposal, a decision that has drawn sharp criticism from consumer advocates.

The record settlement has significant implications for the financial industry, but they may not be what casual observers expect.

There are valid circumstances where referrals could be permitted but generally this practice should be prohibited.

The percentage of minorities getting mortgages has stayed flat the last couple of years. With credit as tight as it has been, that may not be so bad a showing.

Mortgage Master and Washington Federal each had data errors in their 2011 reports.

In finalizing the qualified mortgage rule, the CFPB carved out a special exemption for loans originated for state housing finance agencies.

Currently, two trends present significant challenges to the mortgage servicing industry unlike anything seen in recent history: longer foreclosure timelines and increasing regulatory scrutiny.

There may not be any more Fannie Mae risk-sharing deals until next year, when its regulator sets more goals for this.

The New York Attorney General has selected mortgage securities expert Chad Johnson to serve as chief of the AG’s Investor Protection Bureau.

Bank of America, JPMorgan Chase, Citigroup and Wells Fargo got credit for providing $15.4 billion in relief to roughly 420,000 underwater borrowers last year, according to the settlement monitor.

The Consumer Financial Protection Bureau finalized clarifications Tuesday to its mortgage servicing rules in an effort to ease concerns servicers had about communicating with struggling or bankrupt borrowers who invoke certain legal protections.

QuestSoft will sell products to banks, credit unions, mortgage bankers and brokers that use Calyx software.

As the Consumer Financial Protection Bureau wraps up implementing its voluminous mortgage rules in January, credit unions should not expect any respite from the compliance burden.

The Federal Housing Administration has joined Fannie Mae and Freddie Mac in calling for mortgage lenders to temporarily postpone mortgage payments for furloughed government employees and contractors who have been affected by the shutdown.

The Consumer Financial Protection Bureau is prepping a massive overhaul to its exam procedures designed to make it faster and free up enforcement personnel to pursue their own investigations outside of exams.

Vendor says it is more than just a Roladex with marketing functions built in.