Federal Agencies Revising QRM Rule?
The Federal Reserve, Federal Deposit Insurance Corp., Department of Housing and Urban Development, Federal Housing Finance Agency, Office of the Comptroller of the...
OIG: Fannie, Freddie Must Start Reporting Loan Losses Immediately
Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac are failing to disclose billions of dollars in losses from delinquent mortgages they carry by...
FHA Throws Lifeline To Borrowers Who Have Gone Through Bankruptcy
To make it easier for once-struggling homeowners to qualify for a mortgage, the Federal Housing Administration (FHA) is reducing the amount of time...
Todd Mobraten: Lenders Challenged To Balance Compliance With Cost Control
PERSON OF THE WEEK: Todd Mobraten is president and chief operational officer for USRES Inc. and its wholly owned subsidiary, RES.NET Inc. MortgageOrb...
CFPB Updates Examination Procedures
The Consumer Financial Protection Bureau (CFPB) has released a second update to its examination procedures in connection with the new mortgage regulations scheduled...
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...
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...
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...
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...
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...