Mortgages

Readers react to the Federal Housing Finance Agency considering changing its credit scoring policy, slam the possibility of enforcing mandatory penalties for data breaches at credit reporting agencies, weigh the possible nomination of a credit union regulator to the CFPB, and more.

Adolfo Marzol, an official at the Department of Housing and Urban Development, is optimistic that technological improvements and other changes can help draw Federal Housing Administration lenders back to the fold.

Housing finance reform proposals could make it challenging for community banks and credit unions to serve rural mortgage markets, according to a report issued Wednesday by Brookings and the Center for Responsible Lending.

The credit union encouraged members to save on interest by converting loans they took out elsewhere to Educators Credit Union loans.

Laurie Maggiano, the Consumer Financial Protection Bureau's program manager for servicing and secondary markets, died on Sunday.

The Senate Banking Committee is expected soon to release a bipartisan bill that would significantly reshape the housing finance market, but key issues remain unresolved.

The IRS has taken corrective actions to speed up its income verification system, avoiding a possibly crippling slowdown for the mortgage industry, but long-term issues remain.

On Sep. 30, 2017. Dollars in thousands.

Jeanne D'Arc Credit Union has begun thanking home buyers for their business by throwing housewarming parties for them once the process is complete.

The recently enacted tax reform bill is likely to encourage more consumers to rent instead of buy and tamp down the rapid rise in home prices.

Sen. Sherrod Brown called on the Trump administration to support the Consumer Financial Protection Bureau's enforcement action against PHH Corp., which agreed to a $45 million settlement this week related to foreclosure abuses.

Billionaire’s bid to buy MoneyGram is his latest setback trying to crack the U.S. market; banks want to stick with FICO while nonbanks want to use VantageScore.

Credit unions make strategic hires, promotions to beef up their loan departments and other professionals in the news.

The tax law is expected to eliminate 300,000 affordable housing units over 10 years in part because it will reduce the value of banks’ low-income tax credits, which finance half of all affordable housing units.

PHH Corp. agreed to a $45 million settlement to resolve allegations from 49 states and the District of Columbia that it engaged in "foreclosure process abuses" involving "inconsistent signatures" in its servicing business from 2009 to 2012. The settlement comes as the nonbank mortgage company continues its legal challenge to a separate regulatory action by the CFPB.

Rep. Emanuel Cleaver, D-Mo., has emerged as one of the most outspoken members of Congress when it comes to fintech, both embracing its potential and calling for regulatory guardrails.

Startups that have developed the technology for real estate finance are starting to conduct a broader array of transactions, including property sales.

The new name is an attempt to better capitalize on the strong brand recognition of TruStone Federal Credit Union.

The announcement Tuesday by Sen. Orrin Hatch that he will retire at the end of the year could have a ripple effect throughout the Senate, including the leadership of the Banking Committee.

Startups that have developed the technology for real estate finance are starting to conduct a broader array of transactions, including property sales.