Law and regulation

Lawmakers from both political parties are increasingly interested in forcing lenders that offer loans to upgrade home heating and cooling systems to issue better disclosures, a prospect that has some in the industry nervous.

The bill from three GOP senators would require Truth in Lending Act disclosures for so-called Property Assessed Clean Energy loans, which are currently exempt from the law.

Fourteen institutional investors represented by the law firm Gibbs & Bruns are supporting the Lehman Brothers bankruptcy plan administrator's offer to settle certain securitized mortgage repurchase claims with securities' trustees.

Low scores make it harder for banks to get regulatory OKs to expand, but Wells is in retrenchment mode anyway.

The Federal Housing Finance Agency is facing criticism from bankers and credit unions over its planned pilot program to allow Fannie Mae and Freddie Mac to securitize manufactured housing loans.

Bankers and housing advocates say many low-income housing projects simply won't get built if the White House and Congress move to eliminate two federal block grant programs.

The debt is costing taxpayers $4 billion a year, but rather than forgive it Republicans remain focused on creating a private flood insurance market.

The HUD inspector general reignited an ongoing dispute with housing regulators, saying $29 billion of Federal Housing Administration mortgages may be at risk because they relied on deceptive borrower-financed down-payment assistance.

Ben Carson is facing a turbulent housing market as he takes the reins of the Department of Housing and Urban Development, with mortgage rates rising, inventories tight and home prices higher.

The Senate voted 58-41 on Thursday to confirm Ben Carson to be the 17th secretary of the Department of Housing and Urban Development.

With mortgage rates and housing prices both expected to go up this spring, lenders are facing a decision on how they will adjust to the decline in refinancings and overall lending volumes.

As banking leaders gain a more substantial policymaking role, they will have a greater impact if they stake out a clear position in favor of regulations that protect investors and depositors.

The Consumer Financial Protection Bureau and other federal banking agencies should do more to protect consumers with limited English proficiency, a report from Americans for Financial Reform says.

Despite a weak first quarter for GDP growth, the Mortgage Bankers Association's Mike Fratantoni still predicts that the Fed will raise short-term interest rates this year. That won't necessarily increase mortgage rates, but other variables might.

Sun Bancorp in Mount Laurel, N.J., has agreed to pay $25,000 to resolve issues connected to the company’s former Sun Home Loans division.

Credit Plus in Salisbury, Md., has introduced loan repurchase insurance for mortgage lenders and servicers that use its verification products.

Indications of fraud ebbed when refinancing was more prevalent, but now that home purchases are picking up, misrepresentations could increase, too.

Anticipation of rising interest rates has stirred more talk among mortgage lenders about the need to originate loans to borrowers with low credit scores.

In addition to staying on top of the day-to-day requirements of TRID, lenders must also avoid big-picture mistakes that could disrupt their compliance

The risk for mortgage fraud fell 8.9% at the end of the second quarter compared with a year earlier, according to CoreLogic.