Housing

The Federal Housing Administration is expected to rebuff a government watchdog report that blasted down payment assistance programs. The report has raised concerns that mortgage lenders would have to indemnify FHA for past loans, and that housing finance agencies would have the programs restructured.

Former Texas Gov. Rick Perry laid out a sweeping financial reform agenda on Wednesday, suggesting he would force the biggest banks to hold even more capital or reinstitute elements of the Glass-Steagall Act.

The Special Inspector General for the Troubled Asset Relief Program is renewing calls for further investigation of servicers it claims may be denying too many Home Affordable Modification Program applications.

The House Financial Services Committee tackled several key bills including ones targeting Operation Choke Point, executive compensation at Fannie Mae and Freddie Mac, small banks' exam cycle, and changes or delays to several actions by the Consumer Financial Protection Bureau.

The Mortgage Bankers Association on Wednesday said the housing market recovery has shifted to "a higher gear," and it raised its forecasts for total originations and home purchases for this year and 2016.

Bankers were pleased with the dramatic leap in home lending last quarter, but they cautioned that volume will slow in the second half as rate increases curb refinancings, nonbanks provide stiffer competition, servicing costs remain high and underwriting standards change.

Federal judges have dismissed two lawsuits that accused Wells Fargo of reverse-redlining in Los Angeles and Cook County, Ill., Reuters reported.

WASHINGTON — The efforts of Fannie Mae and Freddie Mac shareholders to claw back the value of their investments by suing the U.S. Treasury have not elicited much support on Capitol Hill.

Struggling to win business in the age of QM, Impac Mortgage has relaxed underwriting requirements in hopes of attracting borrowers many other lenders won't touch.

The Federal Housing Administration wants to set a hard deadline for servicers to file claims on soured mortgages. Industry executives say it should be manageable — unless foreclosures surge again.

BOK Financial has hired Glenn Brunker to oversee mortgage operations and manage the bank's transition to a new federally-required consolidated mortgage disclosure regime.

Despite some silver lining, analysts say the Supreme Court decision upholding "disparate impact" in fair-lending disputes will only embolden activists and regulators to bring more cases.

If Congress fails to extend the Mortgage Debt Forgiveness Relief Act, thousands of homeowners still suffering from the effects of the housing crisis could be forced to pay federal income tax on loan modifications or foreclosures.

Two groups representing small and mid-size lenders say new proposed state mortgage servicing standards for nonbanks will add an unnecessary layer of regulatory burden, especially for firms servicing Fannie Mae and Freddie Mac loans.

Bankers and commercial real estate developers are protesting new restrictions on construction lending, arguing they are poised to hurt credit availability and drive loans into risky, unregulated sectors.

Senate Democrats are urging regulators to investigate potential discrimination in how banks and other financial institutions handle and market foreclosed homes.

Regulators finalized a rule Monday requiring banks to escrow flood insurance premiums and fees for loans on real estate located in a flood zone.

FHA tries to clarify what loan defects will bring the harshest penalties to guide lenders and instill more confidence.

A technical error made by the Consumer Financial Protection Bureau has become a saving grace for lenders who had pushed, begged and pleaded for more time to comply with a new mortgage disclosure rule.

The chair of the Federal Reserve said that though it takes the Community Reinvestment Act "very seriously," it is looking at possible changes to the rules implementing the 1977 anti-redlining law to address concerns that it is too lax.