Regulators should create a simple liquidity formula that allows the secondary market to function rather than using depository rules as a model, writes the head of Whalen Global Advisors.

The Office of the Comptroller of the Currency confirmed it will rescind an unpopular rule overhauling the Community Reinvestment Act and joined other agencies in calling for a renewed interagency effort.

Graham Steele, a former Senate Banking Committee staffer who has supported strong regulation, was named as the administration's choice for assistant secretary of financial institutions.

Rep. Patrick McHenry, the ranking GOP member of the House Financial Services Committee, requested a hearing with Dave Uejio to address policy actions “traditionally ... reserved for a Senate-confirmed Director.”

One provision calls for the Consumer Financial Protection Bureau to look at unfair, deceptive or abusive acts and practices regarding competition.

Those handling loan modifications anticipate a growing secondary market for loans in forbearance as they budget cautiously for additional alterations of regulations down the road.

The White House's firing of Federal Housing Finance Agency Director Mark Calabria sparked immediate speculation about who will run the agency and help chart the future of the two mortgage giants. Potential nominees include ex-Obama administration officials, congressional staffers and members of the Biden transition team.

Six online lenders and the National Community Reinvestment Coalition have asked the Consumer Financial Protection Bureau for clarity on whether disparate-impact rules apply to lending decisions made by machines.

Under the agreement with New York Department of Financial Services, the company will promote the purchase of homes in historically disadvantaged communities in the northern part of the state.

Contrary to the myth perpetrated by many in Washington, IMBs do not pose any real taxpayer financial risk or systemic risk, writes the CEO of Union Home Mortgage and member of the Community Home Lenders Association.

The 2013 rule, which was weakened under the Trump administration, established a comparatively low bar for plaintiffs alleging discrimination.

The Community Home Lenders Association has called for suspension of federal limits on the loan volumes that Fannie Mae and Freddie Mac can purchase from individual lenders. The demand came on the same day that the Biden administration fired FHFA Director Mark Calabria and started the process of nominating his successor.

With the Biden administration signaling that it will prioritize enforcement of federal rules around discriminatory lending, many mortgage firms don't have internal measures in place to ensure compliance of them, writes the internal audit manager of Mortgage Quality Management and Research.

The scheme's victims included an elderly woman and a local title agency that lost $230,000 in the fraudulent property transfer.

The high court sent the case back to the New York-based 2nd U.S. Circuit Court of Appeals to revisit whether the dispute can continue as a class action lawsuit.

The Consumer Financial Protection Bureau at press time had promised to take the sudden nature of the new holiday’s implementation into consideration as it consulted with other agencies on the issue.

The data also showed that more purchase loans were made to low- and moderate-income borrowers last year, but fewer refinances.

While the company did notify the public and regulators in May 2019, executives were not aware at the time that there was previous knowledge of the security vulnerability within the company.

Mortgage lenders should develop a comprehensive program to identify potential risks of noncompliance with consumer protection rules and take corrective actions before the Biden-era Consumer Financial Protection Bureau comes calling.

The Department of Housing and Urban Development reinstituted the “affirmatively furthering fair housing" measure, which the Trump administration had argued was overly prescriptive, and promised a later rulemaking to bolster the policy.