Mortgages

The Mortgage Bankers Association is disappointed that the Consumer Financial Protection Bureau has not provided an explicit temporary safe harbor for lenders who have made a good-faith effort to implement new disclosures.

WASHINGTON — Federal examiners will expect institutions to show that they made a "good faith" effort in preparing for the implementation of the new integrated mortgage disclosures that go into effect on Oct. 3, regulators said in letters sent to industry groups on Thursday.

Banks worldwide are in danger of losing significant profits in several lending areas to nonbank alternative lenders, according to a McKinsey study.

The Federal Housing Finance Agency is planning to issue a final rule in the next 12 months to require Fannie Mae and Freddie Mac to better serve underserved markets, including manufactured housing, the agency said Thursday.

USAA will shift about 120 positions in its mortgage operations from an office near Dallas to offices in Tampa, Fla., and Phoenix.

JPMorgan Chase has paid off $3.56 billion of the $4 billion it owes in consumer relief credit as part of a 2013 settlement over marred mortgage-backed securities issued before the crisis.

WASHINGTON — The Consumer Financial Protection Bureau is working with other regulators on examiner guidance to help ensure that the agencies enforce new mortgage disclosures in a "corrective" manner, not a "punitive" one, Director Richard Cordray said Tuesday.

A bipartisan group of housing experts is seeking to inject more discussion about the mortgage market into presidential campaigns.

It's hard to decide which is more surprising: that the largest U.S. bank has almost abandoned the business of making home loans insured by the Federal Housing Administration, that lots of big banks could be right behind it, or that the FHA might not even need to care.

Lenders that allow borrowers to shop for third-party settlement services face new liability, as the Consumer Financial Protection Bureau's integrated mortgage disclosure rules will let borrowers sue over problems with vendor lists.