Law and regulation

Mortgage lender RMK Financial Corp. is facing a $250,000 fine by the Consumer Financial Protection Bureau on grounds that it used deceptive advertising.

In less than four months, mortgage providers across the nation must be ready to meet new disclosure requirements.

A group of community lenders is calling on the Treasury Department to establish reserves to capitalize a new cash window in case Fannie Mae and Freddie Mac are dismantled.

At #MBATech15 in Orlando, #TRID was on the tip of everyone's tongues. But other conversations also took place, centering largely on how technology adoption can make up for lost time and what future IT infrastructures will look like.

Congress should take the interests of small and midsized mortgage lenders into account as it weighs regulatory reform for community banks. Exempting smaller lenders from random CFPB audits would be a good start.

Burlingame, Calif.-based mortgage compliance service ComplianceEase has acquired Mortgage Banking Systems of McLean, Va.

The complexity in proving whether a loan officer is "outside" has caused many employers to abandon the classification - a move both unwise and unnecessary.

While arrangements to finance MSRs may represent the cheapest way to address liquidity, other avenues of adding cash may be available and necessary.

The mortgage and title industries are creating training programs to teach those in the home sales process this is not just a swapping out of two forms for new ones.

The red pens have come out as members of the real estate industry start to critique the Consumer Financial Protection Bureau's new mortgage shopping toolkit less than a day after its release.

All areas identified by the CFPB in its supervisory report have particular relevance to the mortgage industry, and lenders should review their compliance with the large-scale subject matter areas that the CFPB is committed to enforcing.

Ahead of the August deadline for lenders to provide new Loan Estimate and Closing Disclosure forms, the Consumer Financial Protection Bureau unveiled a new mortgage shopping toolkit Tuesday.

Forcing lenders to fund upgrades for HUD through the proposed administrative fee would set a dangerous precedent, essentially taxing the very borrowers they are intending to serve.

If lenders can't get the Consumer Financial Protection Bureau to back off its Aug. 1 integrated mortgage disclosures deadline, they're at least hoping to get some leniency while they adjust to the new process.

Bank of America is asking the Justices to overturn lower-court rulings that mortgage loans with a secondary lien on a debtor's asset can be "stripped down" to zero when the collateral is completely underwater. The decision could affect an even wider range of second liens.

Mel Watt, the former North Carolina lawmaker, has earned praised for his cautious approach to guiding the future of Fannie Mae and Freddie Mac. But critics say he is making it even more difficult to craft a system without them.

Confusion about pre-approvals is rampant and has been the subject of vehement debate.

Sen. Mike Crapo, R-Idaho, unveiled legislation Friday that would require the banking agencies to review Dodd-Frank Act rules as part of a mandated process to assess the relevance of financial rules.

Many servicers are willing and able to modify mortgages to help borrowers save their homes. It’s just a matter of getting that message through.

The Consumer Financial Protection Bureau may delay the Aug. 1 implementation deadline for new mortgage disclosure forms if vendors aren't ready, said CFPB Deputy Director Steven Antonakes.