Wells Fargo Tentatively Settles FHA Lawsuit
A tentative settlement reached for more than $1 billion between Wells Fargo & Co. and the government resolves claims of reckless underwriting and fraudulent loan certifications on government-insured loans.
Big Banks Suffer Bigger Decline in Mortgage Demand
A survey of banks found that demand for jumbo mortgages has recently retreated, while demand was up for credit lines secured by residential properties. By size, larger banks have seen a bigger drop in overall demand than their smaller counterparts.
Report: Consumers, Small Banks Hurt by Dodd-Frank
New research indicates that small bank count has fallen and mortgage costs have risen since implementation of the Dodd–Frank Wall Street Reform and Consumer Protection Act.
Ocwen, BofA Face Excessive Mortgage Complaints
Based on their respective market shares, Ocwen Financial Corp. and Bank of America Corp. have faced an excessive number of complaints.
Existing Home Sales Catch Up With TRID Delays
A real estate economist called it right last month when he predicted purchase transactions delayed in November by new integrated disclosures would likely close in December.
TRID Compliance on Construction Loans
Loans that are utilized to finance the construction of new residential properties are subject to Know Before you Owe disclosures.
TRID Non-Compliance Risk Low on Non-Agency RMBS
Investor risk on non-agency residential mortgage-backed securities for non-compliance with the TILA-RESPA Integrated Disclosure Rule is likely to be minimal.
Association President Talks About Mortgage Market
The new president of the Minnesota Mortgage Association talked about compliance challenges and what he sees ahead for the industry.
Feedback Sought on HMDA Resubmissions
Feedback is sought on the resubmission of new data required by a recently finalized rule under the Home Mortgage Disclosure Act.
Little Impact on Small Bank Lending from Dodd-Frank
A new government report suggests that major legislation that was passed in the wake of the financial crisis has had little impact on the availability of credit at small financial institutions.