Changes to Servicing Rules Proposed
The Consumer Financial Protection is proposing a number of changes to the servicing rules and how distressed loans are handled.
Complying With ATR While Avoiding Discrimination
In their efforts to comply with the Ability-to-Repay rule, some lenders have discriminated against applicants who rely on disability income. New guidance is intended to help them navigate this fine line.
LO Comp Rule Violations Settled by Calif Lender
A company that paid bonuses to its loan originators for steering borrowers into home loans with high interest rates has agreed to a settlement.
Lender Restraint Is Compliance Driven
Mortgage executives surveyed by a Washington-based advisory firm mostly don't expect looser lending conditions. Behind the outlook are regulations.
Wells Working On FHA Settlement
Discussions are being held to resolve a two-year-old lawsuit alleging that Wells Fargo Bank, N.A., falsely certified Federal Housing Administration-insured loans.
Fannie QC Worksheet Looks at Appraisal Process
Areas addressed in a quality-control worksheet updated by the Federal National Mortgage Association include the appraisal process.
Data Lost in Servicing Transfers
An estimated nearly half-million home loans that have been transferred from one servicer to another have inaccurate data, according to a recent report.
Many Agree Tight Lending Holding Back Home Sales
Government officials, consumer advocates and industry experts all agree that mortgage lenders are keeping credit conditions too tight out of regulatory fears.
Ocwen Accused of Backdating Borrower Letters
Ocwen Financial Corp. has been accused of serious issues in its servicing practices including potentially backdating hundreds of thousands of borrower letters.
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.