Mortgages

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.

Officials signaled that Hudson City Savings Bank's nearly $33 million settlement over redlining charges is only the first in what is likely to be a string of other cases.

Federal officials on Thursday ordered Hudson City Savings Bank to pay more than $27 million to resolve redlining allegations, the largest order of its kind and one that is likely to put larger banks on notice that redlining cases will be aggressively pursued.

Although new HMDA data shows no negative effects from CFPB mortgage rules that went into effect last year, industry representatives argue it isn't showing the full picture.

While Congress has been unable to pass housing finance reform, Fannie Mae and Freddie Mac have done a good job of adhering to some of the spirit of recent bipartisan legislation, according to Mark Zandi, chief economist at Moody's Analytics.

WASHINGTON — The number of mortgage originations dropped 31% to 6 million in 2014 due largely to a decline in refinancing as interest rates increased, according to a report issued Tuesday by the Federal Financial Institutions Examination Council.

Bank of America shareholders voted Tuesday to allow Brian Moynihan to keep his dual titles of chairman and chief executive, with 63% of votes cast in favor of Moynihan.

Despite pledges last year to move "aggressively" to implement new credit scoring models at the government-sponsored enterprises, the Federal Housing Finance Agency's effort appears to have stalled.

The Consumer Financial Protection Bureau finalized a rule Monday that will make it easier for some community banks to make qualified mortgages.

Lenders and vendors found no bad surprises in the Truth in Lending Act/Real Estate Settlement Procedures Act integrated disclosure exam guidance, but it didn't clarify much industry confusion either.