Law and regulation

The message being telegraphed is consistent: lenders have been on notice to upgrade compliance and strict adherence is now expected.

Consumers may see little change in the ultimate cost of Fannie Mae or Freddie Mac loans despite a restructuring of certain loan fees announced Friday by the Federal Housing Finance Agency.

Who should hear consumer stories first, the CFPB or the financial services company already involved with the consumer?

FHFA's reduction appears likely to involve loan level price adjustments that the two government-sponsored enterprises charge borrowers and adverse market fees charged on every loan, but not a guarantee fee reduction that the industry has sought.

Despite a strong industry push, a bill to amend the Consumer Financial Protection Bureau's "qualified mortgage" rule is facing an uphill battle to enactment this year.

Rather than see TRID as a headache, think of it as an impetus to improve business performance, through broad transformation or more targeted enhancements.

Former Treasury Secretary Larry Summers, who sits on Lending Club's board, said in a speech Wednesday that such technology-focused marketplace lenders should be given a fair chance to compete.

The House approved eight regulatory relief bills Tuesday evening, including two controversial measures opposed by a number of Democratic lawmakers and the White House.

The Consumer Financial Protection Bureau issued a final interpretive rule Wednesday that clarifies its housing counseling requirements with respect to high-cost loans.

The new financial assessment requirements pose a challenge, but they are necessary to the sustainability of the reverse mortgage industry.

Richard Syron, the former chief executive officer of Freddie Mac, settled a Securities and Exchange Commission lawsuit claiming officials understated hundreds of billions of dollars in subprime loans held by the firm and Fannie Mae.

NMN's 9th Annual Mortgage Servicing Conference is coming up. Here are some of the can't-miss sessions and speakers on the agenda.

Forty-one percent of mortgage lenders feel they are not ready for the August 2015 Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule, according to a study by Capsilon Corp.

Zillow Group Inc. dropped after giving a 2015 revenue forecast that fell short, blaming delays in regulatory approval for its purchase of rival real estate website Trulia Inc.

Still reeling from underwriting guidelines that went into effect last year, some small lenders are worried that a new mortgage disclosure regime might be the thing that pushes them over the edge.

Lenders must act affirmatively to avoid confusion in the marketplace. A lender's obligations start before a relationship with a potential borrower exists.

NewDay Financial found itself embroiled in another regulatory order, this time stemming from allegations of rampant cheating on mortgage licensing examinations by company employees, including its chief operating officer.

Two House Financial Services subcommittee chairmen are urging the Consumer Financial Protection Bureau to delay enforcement of a new disclosure regime due to take effect this summer until Jan. 1.

Consumer complaints about financial products and services such as home loans are more than just statistics. They indicate the real and difficult challenges people face as they try to navigate the financial seas.

The House is slated to vote on a host of regulatory relief bills next week when Congress returns from its spring break.