Risk

Higher mortgage rates and other macroeconomic challenges may dampen lending under the Federal Housing Administration's single-family program, but they will produce a net benefit to the insurance fund. Here's why.

The New York Department of Financial Services has ordered NewDay Financial to surrender its New York State license, as the fallout continues from its exam-cheating scandal.

Fannie Mae has transferred the credit risk on a $12 billion pool of mortgages to reinsurers.

In one instance, a single complaint in the Consumer Financial Protection Bureau's database was counted as 35 different ones while in another, a complaint against a payday lender was filed against an unrelated bank. Current and former officials say that's par for the course, leading to inflated complaint numbers and inaccurate data.

Lenders are doing a better job keeping consumers informed about the loan process, according to the latest J.D. Power mortgage survey. But the actual speed of loan closings is also a key factor to borrowers' overall satisfaction.

The government's aggressive (and unsuccessful) prosecution of tiny Abacus Federal Savings Bank stands as one of the oddest episodes of post-crisis era.

The added clarity provided by the Federal Housing Administration's revised single-family handbook comes at the expense of lender flexibility to get loans qualified, including a popular workaround for borrowers with deferred student loan debt.

The former chief executive of a Nebraska bank has been convicted by a federal jury for lying to investors and regulators about considerable losses tied to risky commercial real estate investments.

RCS Capital Corp. plunged after Apollo Global Management scaled back plans to invest in the company and another entity associated with Nicholas Schorsch.

Amid an ongoing shift in pricing strategies in the private mortgage insurance market, Essent Group chairman and CEO Mark Casale is trying to show investors that aggressive pricing tactics aren't the only way PMI firms compete.

Title insurers are bracing for a bumpy fourth quarter due to the CFPB's new mortgage disclosure rules. But the timing of the regulation might actually help get the short-term pains out of the way during what's typically a slower period of mortgage activity.

Fannie Mae was affected by the same derivatives accounting mismatch that led to Freddie Mac's first quarterly loss in four years. But its bulk and balance sheet provided enough cushion for the larger of the two government-sponsored enterprises to post a profit for the third quarter.

Wells Fargo has agreed to pay $81.6 million to settle a federal investigation into its alleged failure to properly notify homeowners of increases in their mortgage payments.

Critical shortcomings in data management and analytics to support servicing rights transfers will become more problematic amid servicer expectations of accelerated activity, according to the results of a National Mortgage News survey.

While Texas has been among the strongest housing markets in the country over the past few years, the recent decline in oil and gas prices is affecting its housing market at a time when an overall sluggish economy can't pick up the slack.

Bank of America has paid more than $2.1 billion in consumer relief in the second quarter, making strides in paying the mortgage crisis-related penalties imposed by the Justice Department, an independent monitor announced Tuesday.

Freddie Mac Chief Executive Donald Layton insisted Tuesday that the government-sponsored enterprise showed "very strong fundamentals" in the third quarter, despite reporting a $501 million loss due to an accounting mismatch with its use of derivatives.

What's old is new again, but lenders should heed lessons from the past when re-entering the second-lien originations market.

Though the deadline for compliance is more than two years away, lenders are already warning that they do not have enough time to comply with a new rule that requires institutions to report additional data to regulators on home loans.

The government-sponsored enterprise is working to rebuild partnerships with church organizations and housing financing agencies as part of a broader effort to make owning a home affordable for low- and moderate-income families.