Law and regulation

The lender turned down the mortgage based on CMG's guidelines, the complaint had alleged.

For banks, the government shutdown is little more than an inconvenience so far. But they will surely feel its impact if it stretches on for days or weeks. Here's what they might expect.

New York Attorney General Eric Schneiderman plans to sue Wells Fargo for violating the 2012 national mortgage settlement and has reached an agreement with Bank of America to comply with several new mortgage servicing standards.

The settlement monitor has issued four new tests to measure four banks’ compliance with the national mortgage settlement’s servicing standards.

The CFPB's new rules on originations rank at the top of mortgage lenders' worries these days, but they have plenty more. Scores of home equity lines of credit made during the height of the housing boom are on the verge of resetting. Regulators are demanding that lenders improve oversight of home appraisers. And Fannie and Freddie are cautioning lenders not to sell them anything other than pristine loans. Here are six issues that are keeping mortgage lenders up nights.

Timothy Pawlenty, president and chief executive of the Financial Services Roundtable, predicted that housing finance reform will pass after the 2014 midterm elections.

The Consumer Financial Protection Bureau “wisely” provided qualified mortgage status to loans that are sellable to Fannie Mae and Freddie Mac.

Lower rates, tougher competition and new regulations are what these lenders are concerned about in the next three months.

A rule of the Department of Housing and Urban Development governing repayments of reverse mortgages by surviving spouses conflicts with federal law.

We're hearing that a possible drop in per-loan profitability is among key concerns as the qualified mortgage rule goes into effect.

The California Public Employees Retirement System is showing concern about a program in Richmond, Calif., that could involve using eminent domain to seize loans.

Municipal Mortgage & Equity has resolved an administrative proceeding by the Securities and Exchange Commission that had temporarily suspended its trading.

During the recent housing recovery the industry focus switched on operational efficiency and loss mitigation cost management.

Wells Fargo agreed to an $869 million settlement with Freddie Mac to resolve disputes over faulty loans sold to the government-backed firm before Jan. 1, 2009.

With a government shutdown looming, it appears the mortgage industry will be mildly inconvenienced as most government mortgage programs will remain open.

NAMB President Don Frommeyer had the experience of a lifetime as an umpire at the BIg League World Series. And he still originates loans as well.

The attorney general said these agreements are one more step in the continuing fight to protect New Yorkers from a range of unfair financial schemes—from predatory loans to illegal foreclosures.

After servicing 21 years in Congress, Rep. Spencer Bachus, R-Ala., has decided not to seek re-election in 2014.

The Department of Housing and Urban Development has issued its proposed version of the qualified mortgage rule for FHA-insured loans and it includes a 3% limit on upfront points and fees.