Industry Applauds QRM-QM Alignment
A final rule on risk-retention requirements has been completed by federal regulators, and the mortgage industry is reacting favorably. The rule aligns the qualified residential mortgage definition with the Qualified Mortgage.
Community Banks Spend More to Be Compliant
The cost for community banks to keep up with regulatory changes rose over the past quarter thanks to increased labor costs. Costs have fallen, however, over the prior year.
Mortgage Compliance Made Easier
A crop of new and enhanced services are intended to help home lenders and servicers address upcoming disclosure rules, new licensing requirements and updated agency requirements.
Wells Fargo In Biggest Maternity Settlement So Far
While there have been plenty of settlements over the past three years related to alleged maternity leave discrimination, none has been as big as the one reached by Wells Fargo & Co.'s mortgage unit.
Bank Settles Redlining Accusations
A discrimination settlement being made by a bank-holding company comes as lenders digest two other types of recent discrimination settlements.
Servicing Rules Allegedly Violated in CFPB Action
Regulatory action has been taken in the case of a residential loan servicer that allegedly violated mortgage servicing rules with the way it handled loan modifications.
FHA Helps Push Up Higher Priced Loan Share
Government data released annually indicate that an increase in the share of federally insured mortgages has helped push up the share of higher priced loans.
Industry Commentary: Servicer Risk
The Consumer Financial Protection Bureau has altered the regulatory climate for banks, credit unions and non-depository financial institutions alike.
NY Hard Money Lenders Under Investigation
Financial services firms making hard money loans are being investigated by a New York regulator for potential predatory lending practices.