The CFPB has ratcheted up its scrutiny of the domestic auto finance industry, subpoenaing a number of U.S. auto lenders over the sale of extended warranties and other financial products, according to a report in the May 3 edition of the Wall Street Journal. Bureau officials said they would not comment on or confirm any potential subpoenas or requests for information. The CFPB interacts with the car-buying public and auto lenders in a variety of different ways. These can include educating consumers, examining and possibly...

It's official: Come January of next year, Fannie Mae and Freddie Mac will only be able to purchase qualified mortgages.

Residential lenders produced a total of $63.7 billion in new FHA-insured loans during the quarter, down slightly from the previous quarter.

A new investment banking firm wants to help nonbanks raise capital.

Law enforcement officials say some of the nation's megabanks are violating terms of the historic national servicing settlement.

The game is on: MBA wants a single GSE security and will lobby aggressively on the issue.

Business must be good for Nationstar Mortgage. The fast growing servicer is trying to pull off a huge debt swap.

Overall FHA loan production dropped a tad during the first quarter of 2013 even as refinancing volume remained elevated, according to an Inside FHA Lending analysis of agency data. FHA lenders produced a total of $63.7 billion in new FHA-insured loans during the quarter, down 0.6 percent from the previous quarter but up 27.4 percent from the same period last year. FHA streamline refinancing rose 8.4 percent to $31.0 billion in the first quarter from the prior period. That was also up a whopping 97.8 percent from the same period last year. In a new report to Congress, the ... [2 charts]

Congress Extends MI Tax Deductibility. Congress again extended legislation ensuring the tax deductibility of mortgage insurance on purchase and refinance loans through Dec. 31, 2013. Consequently, homeowners with adjusted household incomes of $109,000 or less can continue to claim the MI tax deduction on their federal tax return retroactive to Jan. 1, 2012. With a tax deduction, qualified borrowers may be able to ...

The Department of Housing and Urban Development’s Office of the Inspector General has recommended that two lenders be reviewed for potential treble damages under the False Claims Act for allowing restrictive covenants to be recorded in regard to 864 FHA-insured loans in violation of FHA regulations. CTX Mortgage Co. of Dallas, TX, and Pulte Mortgage of Englewood, CO, could be on the hook for millions of dollars if HUD agrees to accept the OIG’s recommendations, which also include reimbursements and indemnification for paid and potential future claims. Both lenders maintained that ...