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Regulation and compliance

MV Realty settles NTRAP suit, but more legal woes loom

MV Realty settles NTRAP suit, but more legal woes loom

Industry News, Politics and policy, Regulation and compliance, State regulators, Title insurance /

Florida-based real estate firm MV Realty sees a potential new legal challenge even after settling another of the numerous lawsuits that accuse it of predatory entrapment in regards to its controversial homeowner benefit agreement program.  Processing Content Massachusetts Attorney General Andrea Joy Campbell announced her office reached an agreement with the firm, issuing a $2.25 […]

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Fed’s Bowman previews streamlined capital framework

GSIBs, Minimum capital requirements, Politics and policy, Regulation and compliance, Risk-based capital /

Key Insight: Federal Reserve Vice Chair for Supervision Michelle Bowman highlighted upcoming changes to the global systemically important bank surcharge and Basel III endgame implementation rule, which primarily focus on adjusting input parameters and certain risk weighting mechanisms rather than overall capital levels. Expert quote: “These changes to the capital framework eliminate overlapping requirements, right-size

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Former CFPB counsel: Agency is doing more than you think

Former CFPB counsel: Agency is doing more than you think

CFPB News & Analysis, Law and legal issues, Politics and policy, Regulation and compliance /

The Consumer Financial Protection Bureau is still impacting the mortgage industry, despite a lack of examinations or investigations and the threat of a mass firing.  The regulator under Acting Director Russell Vought has continued to provide regulatory guidance to financial institutions, and even defended some actions put forth by the prior Chopra-led bureau. Richard Horn,

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OCC’s Gould doubles down on state preemption

National banks, Politics and policy, Regulation and compliance /

Key insight: Comptroller Jonathan Gould referenced the Office of the Comptroller of the Currency’s founding by Abraham Lincoln as the basis for federal preemption policy.  Forward look: He said the OCC will continue to file briefs with federal courts on the subject so that there will be a robust record to shore up the agency’s

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Advocates urge judge to block $68m Colony Ridge settlement

Fair Housing Act, Litigation, Politics and policy, Regulation and compliance /

Key insight: Eight civil rights nonprofits have urged a federal court to reject a proposed settlement between the Department of Justice and developer Colony Ridge, arguing an immigration enforcement clause in the settlement is “unlawful.”  What’s at stake: The underlying lawsuit targeted a “foreclosure mill” that sold undeveloped, flood-prone land to Hispanic buyers at 10%

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How Kalshi, Polymarket bets on mortgage rates are being watched by lenders

MARKETING TO BORROWERS, Mortgage Rates, Mortgage technology, Regulation and compliance /

Will mortgage rates go higher this year? You can bet on it.  Processing Content Predictions market platforms Kalshi and Polymarket now feature nascent trading on where the 30-year fixed-rate mortgage will move this year. Anonymous traders have placed tens of thousands of dollars so far between the competing sites on “yes” or “no” contracts against

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Housing bill moves forward with institutional housing ban

Housing, Politics and policy, Regulation and compliance, Trump administration /

Key insight: The White House has indicated its support for the compromise legislative language now moving forward in the Senate. The House passed its own housing bill last month, which included a number of community bank-related riders.  What’s at stake: Legislative language related to brokered and custodial deposits, as well as other policy reforms aimed

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US Bank sees legal setbacks in New York foreclosure suits

Law and legal issues, New York, Regulation and compliance, Servicing /

A New York court ruled against U.S. Bank in its effort to retroactively pursue a years-long foreclosure case that the state deemed unenforceable.  Processing Content A New York appellate court denied an appeal by the bank to reverse a 2023 legal decision that stated the bank’s attempt to foreclose on defendant John Williams in 2019

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AI marketing calls spur suit against lender

Law and legal issues, Marketing, MARKETING TO BORROWERS, Regulation and compliance /

A Michigan lender is facing a class action lawsuit over its alleged use of artificial intelligence voice agents for outbound marketing calls in violation of federal laws. Processing Content In a complaint filed this week in an Eastern Michigan federal district court, Pennsylvania homeowner Brennan Landy accused Mortgage One Funding of employing an AI agent

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What’s it going to take to get banks back into mortgages?

Mortgages, Originations, Politics and policy, Regulation and compliance, Servicing /

Key Insight: Experts say even if regulators recalibrate capital standards, structural and competitive realities that did not exist before 2008 are the biggest drivers in their dwindling market share in mortgage origination and servicing. Nonbanks now dominate the sector, aided by leaner cost structures that are built for rate volatility — advantages that banks will

What’s it going to take to get banks back into mortgages? Read More »