Law and regulation

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