Mortgage Complaints Outperform Overall Complaints
Average monthly complaints filed for home loan products are doing better on a year-over-year basis than overall financial services complaints.
Changes Proposed to HMDA Rule
Changes proposed for Home Mortgage Disclosure Act reporting are intended to help financial institutions comply with a rule finalized two years ago.
Another Settlement for United Wholesale Parent
For the second time since late last year, the parent of United Wholesale Mortgage has reached a settlement with government authorities. The latest action was due to interest overcharges.
FHA Mortgagees Agree to Millions in Settlements
Millions of dollars in recent settlements were disclosed with several firms for not meeting Federal Housing Administration mortgagee requirements. Over a hundred firms were penalized for late recertification reports.
Mortgage Compliance Services Enhanced, Automated
Residential lenders have a host of recently launched or enhanced services that will help them maintain compliance with mortgage rules, banking regulations and agency requirements.
Banks' Non-QM Share Drops as 3rd Party Share Up
Loans that didn't meet Qualified Mortgage requirements accounted for a much smaller share of bank originations last year. But third-party and first-time homebuyer share widened.
Final Civil Action in United Shore FHA Settlement
A final civil action has been disclosed by the government in the False Claims Act settlement by the parent of United Wholesale Mortgage.
Mortgage Complaints Down as Overall Complaints Up
Although the average volume of financial services complaints worsened from a month earlier and year earlier, mortgage complaints declined.
ECOA, Reg B Amendments Proposed
Amendments being proposed to the Equal Credit Opportunity Act and its implementing rule are intended to provide greater clarity for lenders.
DOJ Files in Opposition to CFPB
The Department of Justice has weighed in on the lawsuit filed by PHH Corp.against the Consumer Financial Protection Bureau. At issue is the constitutionality of the bureau's structure.