Law and regulation

We're hearing from New York where the attorney general recently filed a law suit against HSBC alleging things which, if true, could help explain why judicial foreclosures take so long.

W.J. Bradley Mortgage Capital executives find deciding whether holding or selling mortgage servicing rights is worthwhile for the company in the long run both tough and rewarding.

Dodd-Frank Act measures designed to prevent a repeat of the global credit crisis will be largely complete by the end of this year.

Rep. Jeb Hensarling will leave the Federal Housing Administration single-family program open to first-time homebuyers regardless of their income.

Even some Federal Reserve officials are concerned the recent jump in mortgage rates could crimp demand for housing.

The Federal Housing Finance Agency has made it a priority to develop a single platform as opposed to upgrading the individual platforms that Fannie and Freddie currently use.

The Consumer Financial Protection Bureau has issued a new batch of clarifications to its qualified mortgage and servicing rules.

The Financial Stability Oversight Council unanimously voted Tuesday to designate American International Group and GE Capital as systemically important financial institutions.

The Mortgage Bankers Association succeeded in getting a U.S. appeals court to overturn a Department of Labor interpretation that mortgage loan officers are entitled to overtime pay.

Rising rates, and for FHA loans the mortgage insurance premium change, have pushed many New York loans above the subprime threshold and stalling the market as a result.

Republican members of the House Financial Services Committee expressed concern this morning that the Consumer Financial Protection Bureau is collecting personal purchasing information on tens of millions of Americans in contravention of privacy requirements contained in the Dodd-Frank Act.

We're hearing from law firm ReedSmith that the upcoming 100-mile Pennsylvania restriction on how far a mortgage originator may live from his or her office raises some questions.

The Consumer Financial Protection Bureau is expected to tell Congress it will be carefully protecting individuals’ privacy as it builds a massive database on consumer financial behavior and on home mortgages.

ISGN CEO Ritesh Idnani explains how regulatory requirements often lead to new developments in mortgage technology.

In the not-so-distant past, it was OK for the originator just to make sure the file was done correctly.

New restrictions for mortgage loan originators in the amendments include the “100 mile rule.”

Rep. Jeb Hensarling is set to unveil new mortgage finance reform legislation this month—an effort that has virtually no chance of becoming law this year.

Although details of the House legislation are still being worked out, it is likely to eliminate the government-sponsored enterprises and move towards a fully private system.

Excessive construction lending by banks and thrifts during the housing boom led to many failures and losses to the Federal Deposit Insurance Corp.

New Yorkers for Responsible Lending is calling on Gov. Andrew Cuomo to sign a bill which would amend state law which its supporters claim will move homeowners in danger of foreclosure into court-mandated mediation much quicker by making lenders file certification of the legitimacy of the foreclosure action on a more timely basis.