Compliance & Regulation

Fannie Mae announced a pilot rollout of a new special-purpose credit program, while Freddie Mac said it is expediting review of similar new programs from lenders during the Mortgage Bankers Association conference this week.

The Federal Reserve, state supervisors and other bank regulators said they would not penalize institutions that work with impacted borrowers following devastating storms in Florida and Puerto Rico.

A federal judge found that the Consumer Financial Protection Bureau overstated the costs and understated the negative impact of exempting 1,700 financial institutions from reporting Home Mortgage Disclosure Act data.

The same day Provident Financial Services announced it had agreed to buy Lakeland for $1.3 billion, the seller disclosed an ongoing fair-lending investigation by the Justice Department. Provident said it has "not heard anything" that would give it pause.

The post had been vacant on a full-time basis following Ryan Zanin's departure in May.

AI, ML, predictive analytics and complex algorithms can help lenders expand credit to more consumers, but some critics feel the technology can feed into existing discrimination and bias that applicants face.

Republican Sen. Pat Toomey criticized the degree of "opacity" surrounding some community benefit agreements, or written deals between banks and community groups ahead of a merger that often involve billions of dollars of commitments.

As the GSEs enter their 15th year in conservatorship, shareholders are wondering when they'll get their company back.

A larger share of cash-out loans and slowing home-price growth is leading to expectations of more serious delinquencies down the road, according to Milliman.

The agency acknowledged that loan performance in the sector has been strong, but cited several reasons to think that might change, including rising interest rates, the effects of inflation and uncertainty about the future of work and commerce.