Law and regulation

The risk retention requirement was supposed to ensure lenders had "skin in the game" when making mortgages.

Consumer Financial Protection Bureau director Richard Cordray is scheduled to testify before the House Financial Services Committee on Sept. 12.

In today’s multifaceted lending environment lenders need to use sophisticated loan servicing systems that support multiple business channels and adapt to ever-changing industry rules and regulations.

Pricing engines have moved from a tool to help sell loans to a “compliance-ready tool” for use by originators.

The House Financial Services Committee chairman Jeb Hensarling, R-Texas, claims the federal regulators latest re-proposal of the qualified residential mortgage rule is just another admission that risk retention would harm the mortgage market.

The California Association of Realtors is urging the group to sign Senate Bill 30 that provides relief to distressed homeowners attempting to sell their homes through a short sale.

The new proposed definition of the “qualified residential mortgage” has been aligned to match the definition of a “qualified mortgage” which was released earlier this year.

As summer ends and we prepare to kick off the fall conference season (and the new football season), it’s only fitting that we revisit the many ways in which the NFL is like the mortgage industry.

The preliminary title report does not bind the title company.

An industry trade group is pressing the Consumer Financial Protection Bureau to provide more clarity on its servicing rules to ensure an array of loan modification options will be available to troubled borrowers.

Implementing eminent domain may present inconsistencies in solving the root cause of the housing problem in the U.S., create unintended consequences for both borrowers and investors, and inadvertently limit mortgage lending activity, Standard & Poors said in a report.

The Justice Department delivered a subpoena to Clayton Holdings LLC last month for an extensive number of documents related to the firm’s work on residential mortgage-backed securities deals.

The Department of Housing and Urban Development Mortgagee Letter 2013-26 provides minimum underwriting standards for evaluating borrowers who have lost their job or had another event which resulted in reduced income.

As the industry works feverishly to interpret new guidelines pouring out from the CFPB, there are a large number of changes that must get done between now and the end of this year.

There are concerns the majority approach could eventually lead to the return of risky piggy-back and no downpayment lending that was prevalent before the subprime meltdown.

The lawsuit charges Jerry Wilson and EME LLC, with allegedly discriminating against African-American apartment seekers by misrepresenting the availability of housing units at Treva Court Apartments.

How will the new Fannie Mae rules set to be implemented in January 2014 affect borrowers and the way lenders run their businesses?

Inlanta Mortgage bills itself as a fast-growing company within the context of the Milwaukee area, but when it came to getting its recent Fannie Mae seller-servicer approval the company was more meticulous than hurried.

The Mortgage Bankers Association is applauding regulators’ efforts to align the Qualified Mortgage and Qualified Residential Mortgage definitions while incorporating feedback from both the industry and customer advocacy groups into the new risk retention rule.