SunTrust Agrees to Fed Consent Order
The operating subsidiary of SunTrust Banks Inc. has been ordered to pay more than a million dollars for violating the National Flood Insurance Act.
Credit Union Settles Over Maternity Discrimination
Years after home lenders began settling charges of discrimination against women on maternity leave, one credit union didn't get the message it's illegal.
Mortgage Demand Mixed at Banks
Although demand has increased at some banks for a variety of single-family products, there tend to be just as many banks with falling demand for those very same loans.
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.