Sen. Johnson points out that a drafting error in the Dodd-Frank Act led to the current interpretation, which includes mortgage brokerage compensation in the 3% points and fees test.

Michigan homeowners facing a loss of their houses to foreclosure will find it easier to solve their financial problems as a result of a package of bills signed by Gov. Rick Snyder.

The city of Owensboro, Ky., has plowed through a complicated process that led to a mass foreclosure action against 21 problem properties, most of them residential. Now, the city has its sights on another set of similar problem properties for foreclosure.

Local officials could have a new weapon, courtesy of state government, in a drive to thin out empty residences and buildings in St. Joseph, Mo.

A recently launched program in New York state is helping distressed borrowers avoid foreclosure.

Mortgage-focused real estate investment trusts, including those affiliated with Western Asset Management and Pine River Capital Management, are backing loans to Americans who don't meet banks' requirements.

United Shore, a lender based in Troy, Mich., has added a new position to its management team, consumer advocate.

Lower litigation costs helped Bank of America's mortgage unit curb its losses, while Citi's fourth quarter origination volume dropped 18% from a year ago.

Facing the prospect of losing its license in California, Ocwen would be wise to settle its probe by state regulators in a timely manner, observers said. If it doesn't, the mortgage servicer could lose significant revenue and might even face a cash crunch.

The American Land Title Association released a statement pushing back against a new Consumer Financial Protection Bureau initiative.

A federal agency's plan to tighten membership rules for Federal Home Loan banks would hurt community banks and credit unions — and could endanger the financial system, according to a broad array of stakeholders, including state regulators, lawmakers and institutions.

The U.S. Supreme Court gave homeowners more ability to cancel their mortgages if lenders don't provide the required disclosures, in a setback for the banking industry.

Lenders should ensure they are not paying for referrals prohibited by the Real Estate Settlement Procedures Act when they purchase these from another company. Here's one way they can.

The Senate approved legislation to reauthorize the Terrorism Risk Insurance Act, sending it to President Obama's desk after a months-long battle.

Housing and Urban Development Secretary Julian Castro moved swiftly on Thursday to defend pending cuts to the Federal Housing Administration's premiums, rebutting GOP arguments they are premature.

President Obama is expected to announce a half-percentage-point reduction in the Federal Housing Administration's annual premium during a housing policy speech Thursday in Phoenix.

With Republicans now controlling both chambers of Congress and signals from Democrats that they are open to alterations, revisions to Dodd-Frank are at the top of the agenda in addition to other subjects, like terrorism insurance and housing finance reform.

With 2015 in full swing, National Mortgage News is taking a look at the biggest trends and topics that will shape 2015.

Mortgage lenders are hoping the new Republican-controlled Congress will be more receptive to making changes to the "qualified mortgage" rule.

As a result of certain court decisions, government agencies like the Federal Housing Administration have even more latitude in pursuing these claims against lenders.