Compliance & Regulation

The class action case, first brought up in 2020, accused Lakeview Loan Servicing and LoanCare of violating the Texas Debt Collection Act by charging "junk" fees.

The high court will hear oral arguments on Oct. 3 on whether the Consumer Financial Protection Bureau's funding violates the Appropriations clause. A key issue is whether parameters can be placed around Congress' authority over the federal purse strings.

The report comes from Federal Housing Finance Agency Inspector General Brian Tomney's office, which also is keeping an eye on turnover risks at the government-sponsored enterprises.

The proposal by a regulator overseeing government-related loan buyers could cut companies with small infractions off from a key source of business, groups say.

But a great deal of variation in distress levels were reported between individual markets and property sectors, according to two new reports.

Two separate programs providing as much as $10,000 in assistance are open to eligible borrowers in the Philadelphia area.

When 55 banks were asked to provide metrics on the health of their commercial real estate borrowers, some of them gave data that was six months old. The survey by Moody's Investors Service also found that certain borrowers are already struggling, and others could hit trouble soon, since they'll need to refinance at high interest rates.

The U.S. Securities and Exchange Commission is probing the non-QM lender, which pledges to promote homeownership in underserved communities, over its mortgage-backed securities, according to people with direct knowledge of the matter. 

Banking regulators have been debating how to reform the implementing regulations for the Community Reinvestment Act across two presidential administrations. But despite banks' urging to slow down, regulators are poised to finish the job in early fall.

While a majority of current forborne borrowers sought relief for reasons related to COVID-19, servicers are seeing a growing share of cases involving natural disasters or personal financial issues, the Mortgage Bankers Association said.