CLEAR Act Would Exempt Small Lenders From Certain ATR/QM Rules
In order to provide regulatory relief to community banks, Sens. Jerry Moran, R-Kan., Jon Tester, D-Mont., and Mark Kirk, R-Ill., recently introduced legislation...
FHFA Analyzes Impact Of Distressed Sales On Its HPI
The Federal Housing Finance Agency (FHFA) has released a new working paper analyzing the effects of distressed sales - i.e., REOs and short...
FHFA Stiffens Its Stance On Eminent Domain
Concerned about the potential impact that eminent domain proceedings - more specifically, the widespread seizure of mortgages - could have on government-sponsored enterprises...
Class Action Lawsuit Brought Against Wells Fargo Over HAMP
A class action lawsuit filed in the Ninth Circuit Court of Appeals alleges that Wells Fargo improperly denied customers the opportunity to obtain...
GSEs Should Be Shuttered, Obama Says
President Barack Obama on Tuesday said he supports proposed legislation that would liquidate government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac and called...
Bank Of America Sued For Investor Fraud
The U.S. government on Tuesday slapped Bank of America (BofA) with two civil suits alleging investor fraud in its sale of $850 million...
Former CFPB Officials Grilled Over Launch Of Advisory Firm
Four former members of the Consumer Financial Protection Bureau (CFPB) are under congressional scrutiny after one of them launched his own private advisory...
Clint Cornett: Appraisal Management Industry Must Prepare For Increased Scrutiny
PERSON OF THE WEEK: Clint Cornett is the founder and CEO of ValuTrac Software Inc., offering software solutions to the appraisal management and...
Senate Won’t Vote On Mel Watt’s Confirmation Until September
The U.S. Senate will not vote on the confirmation of Rep. Mel Watt, D-N.C., as director of the Federal Housing Finance Agency (FHFA)...
Safeguard Properties’ Management Training Program Delivers Results
Successful companies are good at not only hiring talent, but also developing strong employees into effective leaders. According to the American Society of...
Senate Approves Reverse Mortgage Stabilization Act
Following approval in the House of Representatives in June, the Senate late Tuesday approved the Reverse Mortgage Stabilization Act, which gives the Department...
Senate Banking Committee Slam-Dunks FHA Solvency Act
The Senate Banking Committee today overwhelmingly approved legislation introduced by committee leaders Sen. Tim Johnson, D-S.D., and Sen. Mike Crapo, R-Idaho, which, if...
More Than 25% Of HAMP Participants Had Re-Defaulted As Of April
Of the approximately 1.2 million mortgage modifications that have been completed since the Home Affordable Modification Program (HAMP) was first launched in 2009,...
MBA Bright On Housing, Gloomy On Economic Recovery In Second Half
Will the U.S. economy improve enough in the second half for the Federal Reserve to start curtailing its bond-buying program in the fourth...
Nancy Alley: Compliance To Drive Mortgage Technology Initiatives
PERSON OF THE WEEK: Nancy Alley is chief product officer for ISGN, a provider of mortgage technology and services. Prior to joining ISGN,...
CFPB Files Complaint Against Castle & Cooke Mortgage
In its first major legal action as a regulatory body, the Consumer Financial Protection Bureau (CFPB) has filed a complaint in federal district...
House Financial Services Committee Approves PATH Act
The House Financial Services Committee on Wednesday narrowly approved the Protecting American Taxpayers and Homeowners (PATH) Act, a Republican-backed housing finance reform bill...
Bill Reintroduced To Protect Americans From ‘Abusive Government Takings’
In reaction to proposals floated in numerous municipalities to use eminent domain to seize underwater mortgages, Rep. John Campbell, R-Calif., has reintroduced the...
Most Mortgage Servicers’ Customer Satisfaction Scores Improving
Reforms instituted as a result of the National Mortgage Settlement as well as through the Consumer Financial Protection Bureau (CFPB) helped drive an...
CoreLogic Buys BofA’s Flood Zone Determination And Tax Processing Services Assets
Residential property information, analytics and services provider CoreLogic has purchased Bank of America's (BofA) flood zone determination and tax processing services assets. In...