Law and regulation

Court ruling gives hedge fund access to decision-making that led to Treasury collecting most of Fannie and Freddie's profits.

California Gov. Jerry Brown signed into law a measure extending state income tax relief to borrowers with canceled or forgiven mortgage debt.

Independent mortgage lenders are concerned that regulators will use the report as an excuse to raise minimum net worth requirements for smaller lenders.

The Atlanta bank's CEO sounds upbeat on the mortgage and housing markets. Unlike JPMorgan Chase, SunTrust appears to be committed to the FHA lending business following a large government settlement.

The general perception in the mortgage industry is that the CFPB and their new regulations are like an albatross around the necks of mortgage companies, especially the smaller independents.

Under the Consumer Financial Protection Bureau plan, lenders would need to respond to virtually every public complaint — even those by consumers, disgruntled employees, and competitors that abuse this forum.

BB&T Corp. said the Department of Housing and Urban Development plans to audit the lender over sales of government-backed loans.

The Consumer Financial Protection Bureau worries that mini-correspondent lenders are circumventing its qualified mortgage rule. But a large number of mortgage brokers converted to mini-correspondents because the rule made it harder to operate as a broker.

These investors complain they get little say or direct recompense in government settlements with big banks over misrepresentations of mortgage securities like the Department of Justice's $7 billion deal with Citigroup.

The Senate overwhelmingly passed a bill Thursday to extend the Terrorism Risk Insurance Act, as divisions over a competing measure continue to stymie House leaders.

Nearly five years after Bank of America dumped the Mortgage Servicing Package for technology it obtained in its acquisition of Countrywide, a forlorn Black Knight Financial Services is trying to win back the country's third-largest servicer.

Nonbank mortgage lenders pose greater risks to Fannie Mae and Freddie Mac because they have limited government oversight and generally weaker finances than banks, according to a government watchdog report.

The Consumer Financial Protection Bureau's guidance on the growing mortgage mini-correspondent business has scared some originators to the point that they are considering converting to branches of larger retail lenders.

Ocwen Financial has created a community advisory council to address the needs of distressed borrowers amid regulatory scrutiny of the mortgage servicer.

Borrowers with a first-lien modification and home equity line of credit could face a spike in their monthly mortgage obligations when the interest rates on both loans reset next year.

The Justice Department's $7 billion deal with Citigroup is likely not the last big government maneuver to penalize banks for faulty mortgage-related practices leading to the financial crisis.

The CFPB's guidance provides no specific rules or bright lines – leaving the agency the flexibility to call it how it sees it and reflecting a desire to regulate through enforcement.

“Under the terms of this settlement, the bank has admitted to its misdeeds in great detail,” U.S. Attorney General Eric Holder said.

The Consumer Financial Protection Bureau says brokers will have to comply with compensation limits even if they are funding loans via a warehouse line of credit.

Radian Group and MGIC Investment Corp. are among mortgage insurers that would need to fill a financial gap under new financial-strength rules proposed by the Federal Housing Finance Agency.