Thursday, December 26, 2024

Regulatory Compliance

HUD, DOJ Sign MOU For Reviewing False Claims Act Complaints Against FHA Lenders

In an effort to woo banks back to FHA lending, the U.S. Housing and Urban Development (HUD) and U.S. Justice Department (DOJ) have set...

Black Knight Launches New State and Federal Compliance Testing Solution

Compliance testing can add significant time and cost to the loan origination process - but by integrating automated state and federal compliance checks with...

State Mortgage Regulators Seek to Standardize Data Transfer Between LOSs

State regulators are encouraging the mortgage industry to integrate state-developed data standards with mortgage loan origination systems. The purpose is to enhance the quality of...

CFPB Launches Task Force to ‘Harmonize’ and ‘Modernize’ Consumer Financial Laws

The Consumer Financial Protection Bureau (CFPB) is establishing a task force that will look for ways to improve and strengthen consumer financial laws and...

IDS and Mortgage Builder Develop Fresh Integration Using MISMO Version 3.4

International Document Services (IDS), which provides document services to the mortgage industry, has signed a preferred partnership agreement with Mortgage Builder, a provider of...

Waterstone Mortgage Hires Scott Woodbury as VP, Risk and Compliance

Scott Woodbury has joined Waterstone Mortgage as vice president, risk and compliance. Woodbury previously served as general counsel for Shamrock Home Loans. In his new position...

CFPB to Enhance Consumer Complaint Database

In response to feedback it received from the mortgage industry in 2018, the Consumer Financial Protection Bureau (CFPB) is taking steps to improve its...

Industry to CFPB: Ditch the DTI Ratio Requirement for ATR/QM Rule

A coalition of mortgage lenders and industry associations is pushing the Consumer Financial Protection Bureau (CFPB) to eliminate the debt-to-income (DTI) ratio requirement from...

Mortgage Cadence, CoreLogic Team to Lower the Cost to Originate

Mortgage Cadence, an Accenture company, has integrated CoreLogic’s Print and Ship secure document delivery solution with the latest version of Mortgage Cadence Enterprise Lending...

HUD Seeks to Amend Interpretation of Fair Housing Act’s Disparate Impact Rule

The U.S. Department of Housing and Urban Development (HUD) is seeking feedback on a proposed rule to amend the HUD interpretation of the Fair...

CFPB Plans to Let QM Patch Expire

The Consumer Financial Protection Bureau (CFPB) is planning to allow the controversial QM patch rule expire in January 2021, however, it may impose a...

New Capital Partners Invests in ARMCO

Private equity firm New Capital Partners has invested in ACES Risk Management Corp. (ARMCO), a provider of risk management solutions geared for the mortgage...

ARMCO Hires Mike Ehring as Senior Director of Business Development

Mike Ehring recently joined ARMCO, a provider of risk mitigation solutions to the mortgage industry, as senior director of business development.  Ehring has more than...

DocMagic Now Integrated with LendingPad

DocMagic, offering document preparation, regulatory compliance and e-mortgage services to mortgage lenders, reports that its platform is now integrated with the LendingPad loan origination system (LOS) from WEI Technology. The...

LoanLogics Hires Elizabeth Green, Paul Vancheri For Key Executive Roles

Elizabeth Green, a 25-year veteran leader in the mortgage software and valuation sectors, has joined loan quality technology firm LoanLogics as chief collateral officer. In...

CFPB Fines Freedom Mortgage for HMDA Violations

Freedom Mortgage will pay a $1.75 million fine and must take steps to improve its compliance in order to settle allegations by the Consumer...

MQMR Hires Jeff Christensen as VP of Sales

Jeff Christensen recently joined mortgage compliance consultancy Mortgage Quality Management and Research (MQMR) as vice president of sales. Christensen has more than 10 years of...

CFPB Settles with BSI Financial Services Over RESPA, TILA Violations

Mortgage servicer BSI Financial Services will pay a penalty of $200,000 and restitution to borrowers of at least $36,500 to settle allegations from the...

Multiple Staff Appointments at the FHFA

Christopher L. Bosland has joined the Federal Housing Finance Agency (FHFA) as senior advisor for regulatory affairs while Meghan C. Patenaude has joined as...

CFPB Gearing Up to Further Relax HMDA and Possibly Other Rules

The Consumer Financial Protection Bureau (CFPB) plans to further relax its Home Mortgage Disclosure Act (HMDA) rules and may be making additional rule changes...