|Industry Optimistic About Proposed TRID Rule
The Consumer Financial Protection Bureau plans to provide more certainty to mortgage bankers and service providers about the TILA-RESPA integrated disclosure rule.
Government Mortgages Drive Up Fraud Risk
Defects on mortgage applications rose for the first time in eight months, and it was deterioration on government mortgages that was behind the increase.
Freedom Mortgage Has Biggest Jump in Complaints
Mortgage complaints have risen at a faster pace than complaints for all financial services, and Freedom Mortgage Corp. had the biggest increase.
Appraisal Services Technology Enhanced
Several mortgage service providers that offer appraisal technology have recently announced enhancements that are designed to help residential lenders increase efficiency, maintain compliance and meet new government mortgage requirements.
Implications of PHH v. CFPB
If PHH Corp. wins its appeal of a Consumer Financial Protection Bureau order, it could impact both the regulator's structure and other Real Estate Settlement Procedures Act issues.
Share of Non-QM Lending Grows at Banks
Although new mortgage regulations continue to hamper home lending at the country's banks, a growing share are willing to step out of the box. The share of originations from third parties diminished.
Borrowers Sue FHA Lenders Over Interest Charges
Federal lawsuits filed in Florida and Georgia accuse four big banks of improperly disclosing interest on government-insured mortgages that were paid off.
Big FHA Settlement at Freedom Mortgage
Freedom Mortgage Corp. has agreed to settle for more than $100 million allegations it falsely certified government-insured mortgages over a five-year period.
Wells Fargo Finalizes FHA Settlement
Wells Fargo & Co. has finalized a settlement tentatively reached two months ago with the government over allegations of reckless underwriting and fraudulent loan certifications on government-insured loans.
Why Chase Stays in Mortgage Business
There are lots of reasons for JP Morgan Chase & Co. not be in the mortgage business. But the company's chief sees even more reasons to prudently remain in the sector.