Law and regulation

The bankruptcy of Wingspan Portfolio Advisors epitomizes the existential crisis facing default servicing. This once-thriving sector of the mortgage industry now finds itself declining in lockstep with the drop in loan delinquencies and foreclosures.

Just a day after the Dodd-Frank Act's fifth anniversary, Senate Banking Committee Chairman Richard Shelby launched a new attempt to make significant changes to the law, attaching his regulatory relief bill to legislation that would provide funding for financial services agencies.

The Consumer Financial Protection Bureau named Meredith Fuchs, the agency's general counsel, to fill the bureau's No. 2 leadership soon to be vacated by Steven Antonakes.

WASHINGTON — The Senate Finance Committee voted Tuesday for a measure that would extend a temporary 10-basis point hike in Fannie Mae and Freddie Mac guarantee fees for an additional four years.

The Consumer Financial Protection Bureau has issued its final rule for the "Know Before You Owe" mortgage disclosure rule, which is also known as TILA-RESPA or TRID.

From CFPB and TRID to QM and ATR, the barrage of new abbreviations emanating from the Dodd-Frank Act has only been matched by the enormity of the changes it made to the mortgage industry. Here are 10 ways that the landmark financial reform legislation has reshaped the mortgage industry since becoming law five years ago.

Treasury Secretary Jack Lew said Monday that the Obama Administration will continue to defend the Dodd-Frank Act amid Republican efforts to water down the law, even as one of its namesakes suggested changes to it may be necessary.

Richard Green, director of the University of Southern California's Lusk Center for Real Estate, will serve as a senior FHA advisor on housing finance policy for one year.

As new foreign bank regulations push financial institutions to shed risk-weighted assets, companies like Barclays and RBS are reducing their roles in the mortgage-backed securities market. But reduced competition in this sector is bad for liquidity.

The efforts of Fannie Mae and Freddie Mac shareholders to claw back the value of their investments by suing the U.S. Treasury have not elicited much support on Capitol Hill.