Law and regulation

Too many lenders simply gather their mortgage application data for their annual HMDA report and send it to their regulators without realizing its value, according to David Moffat, president and chief executive of Mortgage TrueView.

EverBank failed to properly determine mortgagor eligibility for the Federal Housing Administration's preforeclosure sale program, according to an audit report released by the inspector general for HUD.

Community banks, by and large, appear well-prepared for capital standards that Basel II will phase in beginning in January. Still, concerns remain on how the requirements will shape cost structures and consolidation at smaller institutions.

A lawsuit filed by low-income housing advocates designed to force the Federal Housing Finance Agency to provide money to a housing trust fund has been blocked by a U.S. district court judge.

AllRegs has begun publishing FHA single-family policies on its publishing platform.

WASHINGTON — Loans for manufactured homes typically come with higher interest rates and fewer consumer protections than more conventional mortgages, the Consumer Financial Protection Bureau said Tuesday.

The DOJ wants the banks it threatens with litigation to admit accountability, pay hefty penalties and takes steps to satisfy the public thirst for payback. But the financial system would be better served if the bulk of regulation was left to the banking agencies.

BBVA Compass has hired a veteran banker to make sure that the company achieves its Community Reinvestment Act goals.

Citigroup CEO Michael Corbat reflected with Warburg Pincus CEO Joseph Landy and Paulson & Co. CEO John Paulson on the growth paradigm of tomorrow’s financial markets, the role of shadow banking within it and how the world for megabanks has become permanently smaller.

The Consumer Financial Protection Bureau's action against Flagstar Bank on Monday marked a series of firsts for the agency, including the first time it enforced its new mortgage servicing rules and the first time it banned a servicer from servicing new loans until fixes are made.

Hefty penalty seems 'puzzling' since the Seattle and Des Moines FHLB merger seems on track to be the first voluntary merger in the 82-year history of the Federal Home Loan Bank System.

WASHINGTON — Michigan-based Flagstar Bank will be required to pay $37.5 million in restitution and fines over regulatory allegations it blocked struggling homeowners from receiving foreclosure relief, the Consumer Financial Protection Bureau said Monday.

This shows that the Consumer Financial Protection Bureau will hold a company responsible for the actions of a third party, regardless of intent, if a consumer is negatively affected.

Pessimism prevails at this year’s New England Mortgage Bankers Conference.

The regulator of Fannie Mae and Freddie Mac should require banks and mortgage lenders to obtain independent, third-party tests to ensure compliance with its guidelines, according to a government watchdog report.

Several federal agencies have joined forces in launching new public service advertisements designed to inform and assist homeowners at risk of foreclosure.

A high percentage of Federal Housing Administration-insured loans are falling into the “higher priced” bucket due to a series of mortgage insurance hikes over the past several years.

In the coming months, banks, mortgage lenders, consumer advocates and policy wonks will be slicing and dicing the latest Home Mortgage Disclosure Act data, as they do every year. Rarely, if ever, have the stakes been higher.

Proposals in Congress to change the structure of the government-sponsored enterprises Fannie Mae and Freddie Mac seem to be languishing in this election year.

Rep. John Delaney said Tuesday that he's "optimistic" Congress could take up reform of Fannie Mae and Freddie Mac next term, despite the political difficulties lawmakers have faced in getting legislation approved over the past two years.