Law and regulation

JPMorgan Chase has agreed to stop accepting commissions from the nation's top provider of force-placed insurance in an agreement that could loom large for other big banks alleged to have overbilled homeowners on insurance premiums.

The banking committees are set to resume debate over housing finance reform when Congress returns from summer recess on Monday, but the issue will be just one of many facing lawmakers during a busy fall.

Richard Cordray's political savvy has given him a knack for relating the Consumer Financial Protection Bureau's work to vastly different audiences during public speeches.

Kansas City Federal Reserve Bank president Esther George called for tapering the Fed’s $85 billion in monthly bond buying at its Sept. 17-18 meeting while cautioning that such reductions may prompt market volatility.

Today, the five-year anniversary of the seizure of Fannie Mae and Freddie Mac, seems like a good time to assess the Dodd-Frank Act.

Federal Reserve Bank of Chicago President Charles Evans said the Fed shouldn’t taper its $85 billion in monthly bond buying until inflation and economic growth pick up.

U.S. regulators will ratchet up enforcement penalties if banks keep making compliance mistakes that have cost them more than $100 billion in legal bills in recent years.

The Department of Housing and Urban Development has redesigned its reverse mortgage program to reduce losses and ensure seniors keep some of their home equity in reserve.

A legal safe harbor designed to protect lenders that make qualified mortgage loans from consumer lawsuits is likely to expose institutions to potentially even greater liability.

For the time being it does not appear that a no commission policy would provide greater latitude than a reduced commission policy.

The 9th U.S. Circuit Court of Appeals said Wells Fargo was required under the Federal Home Affordable Modification Program to offer mods to those borrowers who demonstrated their eligibility during a trial period.

New York State's chief banking regulator is tightening the screws on banks that lend to landlords, increasing the requirements for Community Reinvestment Act credit.

We're hearing about mortgage servicing problems from both the CFPB and John McDermott.

Tanya Eastwood, managing director of Greystone’s Affordable Housing Initiatives group, has been elected to the Council for Affordable and Rural Housing board of directors.

In August asking home prices increased 11% year-over-year but only 1.2% month-over-month and 3.1% quarter-over-quarter.

Lenders continued to face challenges with loan growth in the second quarter as interest rates increased.

Two industry groups are urging a congressional watchdog agency to review the Consumer Financial Protection Bureau’s consumer complaint database for possible privacy issues.

A national alliance has been established with a goal of protecting and promoting sustainable homeownership for all 75 million existing homeowners and aspiring homebuyers across the country.

Reverse mortgage borrowers will have more options for tapping the equity in their homes without depleting all their equity in one transaction.

The Consumer Financial Protection Bureau’s top supervision and enforcement officer, Steven Antonakes, will also serve as the CFPB’s second-in-command.