Cheyenne Hopkins

The 27-page term sheet handed to the five largest mortgage servicers last week is a detailed, dense list of requirements that, if implemented as proposed, would fundamentally change the relationship between servicers, investors and borrowers.

Federal agencies are set to establish sweeping new servicing standards not by legislation or regulatory process, but by a major action against the top five mortgage servicers.

Rep. Spencer Bachus invokes a TV character in an effort to make sense of Congress; this year marks the 100th anniversary of uniform routing numbers; and more.

Regulators issued a tough opening salvo in settlement talks with the largest servicers, presenting them with a 27-page term sheet that would force major changes to the industry.

Industry observers said it was clear why Republicans had chosen to move forward quickly on the foreclosure-prevention programs, arguing it fit in with their overall focus on reducing the deficit.

An effort to delay interchange rules continued to build momentum Wednesday as bankers and lawmakers called for a more effective exemption for small financial institutions.

After months of infighting, the federal banking agencies have reached an agreement on risk retention standards that would include some new rules for servicers.

After months of infighting, the federal banking agencies have reached an agreement on risk retention standards that would include some new rules for servicers.

The Treasury Department announced Monday it had appointed a new director to Ally Financial Inc.'s board of directors.

Rep. Maxine Waters says $20B would be too small a penalty for erring mortgage servicers; Barney Frank praises a GOP colleague in the fight to contain the financial crisis; and more.

While some reports claim an agreement on the proper punishment for large servicers is imminent, the truth is nothing is yet set in stone, and the situation is changing daily.

A year after the credit card reform law was enacted, Elizabeth Warren said the industry has improved its practices and warned against over regulation of the card market.

Warren plans to make CFPB's new digs in OTS headquarters more consumer-friendly; former Ways and Means Committee Chairman Thomas praises Frank, digs at Dodd; and more.

The federal banking agencies are preparing formal enforcement actions against the largest servicing firms, hoping the actions will set de facto standards across the industry.

Elizabeth Warren, the Obama administration official in charge of setting up the Consumer Financial Protection Bureau, attacked Republican efforts to cut the agency's funding, while also previewing efforts to reform credit card disclosures.

Neil Barofsky, the special inspector general for the Troubled Asset Relief Program, said Monday that he would resign on March 30.

Fed Gov. Sarah Bloom Raskin said late Friday that the mortgage servicing industry needs to overhaul its practices and be more accountable, delivering the central bank's toughest words to date on the subject

Fed Gov. Sarah Bloom Raskin said late Friday that the mortgage servicing industry needs to overhaul its practices and be more accountable, delivering the central bank's toughest words ...

Chris Dodd is in talks to lead film industry lobby group; Barney Frank rebuts an FCIC report that claims the Massachusetts congressman supported failed housing policies; and more.

In several different venues Friday morning, the Treasury Secretary defended the administration's decision not to offer a full-fledged plan for the future of the housing market.