Law and regulation

Homeowners reeling from coronavirus-induced economic shock are already enduring extremely long wait times while trying to get relief. Legislation passed last week could worsen the logjams.

The regulation issued late on Tuesday directs state-regulated financial institutions to give mortgage borrowers at least 90 days of forbearance if they can show financial hardship resulting from the coronavirus pandemic. It also requires banks and credit unions to provide relief on ATM fees and credit card late payment fees.

Kansas Gov. Laura Kelly on Wednesday announced she was banning evictions and foreclosures for the next six weeks, adding to her administration's response to the unprecedented crisis caused by COVID-19.

Financial executives who visited the White House pledged to help small businesses and consumers get through any economic damage as the virus continues to spread. They also encouraged the government to support fiscal stimulus policies.

Corporations that own California properties could soon be fined for keeping homes vacant for more than three months under a proposed law to give tenants, nonprofits and cities more say over what happens to empty buildings.

Finance Minister Bill Morneau is relaxing mortgage qualification rules to make it easier for homebuyers to secure financing, a move that could give Canada's real estate market another boost.

The city's Residential Mortgage Foreclosure Diversion program, born out of the recession in 2008, has prevented nearly 14,000 foreclosures by working with lenders and homeowners to lower mortgage payments.

Mortgages guaranteed by the Department of Veterans Affairs may increase in certain regions due to a new option that can offset a broader fee increase.

In letters to Freddie Mac and Fannie Mae, six Democrats asked how the mortgage giants are factoring extreme weather into their risk modeling.

A high-profile proposal to address California's housing crisis by compelling cities to build more homes failed to pass the Senate on Wednesday, but lawmakers left the bill's author one more chance to pass the measure.

Companies are already having a tough time finding enough office space in San Francisco and are decamping for lower-cost locations.

IBM called for rules aimed at eliminating bias in artificial intelligence to address concerns which range from identifying faces in security-camera footage to making determinations about mortgage rates.

The Federal Housing Finance Agency is considering bringing back the idea of imposing stricter criteria for purchasing mortgages in areas where residential Property Assessed Clean Energy financing is available.

Mortgage lenders' uptake of innovations in artificial intelligence, big data and other technologies has been relatively slow. It's an approach that may not be tenable in 2020.

Todd Zywicki, a law professor who has sharply criticized the CFPB as an unaccountable bureaucracy, has been named chair of an agency task force identifying potential conflicts and inconsistencies in consumer finance law.

In a case highlighting a fraud risk for mortgage companies and other financial institutions, two Garden State residents were sentenced for using fake money orders attempting to fraudulently discharge debts.

The Federal Housing Administration has implemented defect taxonomy revisions for 2020 that it considers one of several milestone achievements in its efforts to "provide greater clarity and consistency for lenders.”

A group of Massachusetts lawmakers, local elected officials and housing advocates plan to launch a new coalition next week to advocate for real estate transfer fee legislation.

According to a survey by the National Association of Realtors, 12% of homebuyers in 2019 bought a multigenerational home.

Denmark’s housing minister says he would find a 10% market decline an acceptable outcome as he tries to alter the law to prevent speculation