Congress will consider anti-predatory lending legislation that combines consumer protection and fair lending measures, with emphasis on lender liability, suitability principles, and lending disparities between white and minority borrowers. In remarks at the...
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The prime mortgage market could soon find itself under regulatory siege as federal banking regulators weigh the possibility of expanding the scope of proposed subprime lending guidance beyond subprime hybrid ARMs, even as the Federal Trade Commission considers...
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Compliance experts believe the Federal Deposit Insurance Corp.’s action against Fremont General Corp. is an isolated case and does not indicate a long-term enforcement trend against subprime lenders. But they are concerned that the pendulum could swing so far back...
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The Department of Housing and Urban Development and its Office of the Inspector General are in stark disagreement over the merits of FHA reform, raising doubts as to whether FHA reform legislation will pass in this Congress. In last week’s testimony before a Senate...
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Countrywide Financial Corp. will apply some provisions of a fair lending agreement with former New York Attorney General Eliot Spitzer nationwide as it begins operating as a federal savings bank.Countrywide stated its commitment to maintain a strong fair...
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Proposed final regulations implementing Rhode Island’s Home Loan Protection Act could increase compliance costs and increase liability risk for lenders or companies investing in mortgages made in the state, the mortgage banking industry warned. In comments submitted...
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Mortgage lenders may now post official Federal Bureau of Investigation warnings on their Web sites as part of the agency’s national campaign against home loan fraud. On March 8, the FBI and the Mortgage Bankers Association announced an agreement promoting...
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The growing complexity of regulations has created such a heavy legal burden for in-house counsel that many mortgage companies turn to outside counsel for help. There are many law offices specializing in mortgage industry issues, from small town barristers to nternational...
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California: State lawmakers are considering legislation that would require the... Oregon: Mortgage lenders and brokers must closely supervise and control loan originators... Georgia. Since the beginning of the month, state banking regulators have issued five...
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House of Representatives: GSE Reform and Oversight Bill. Bipartisan legislation that would... Mortgage Broker Bill. Rep. Luis Gutierrez, D-IL, will introduce... Office of Thrift Supervision: Interagency Fair Lending Exam Updated. The Federal Financial Institutions Examination Council has...
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Melissa Crider is 1st Metropolitan Mortgage’s new deputy chief... The National Association of Mortgage Brokers holds its...The National Real Estate Development Council will host Fair Lending Summit... IMF is sponsoring an audio conference, “Loss Mitigation...
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