Regarding the apology, one human resources executive said Garg’s new email is “too little, too late. I think Garg now realizes he made a tragic mistake.”

Three of the top five nonprime servicers posted declines from the second to the third quarter.

In a letter to Ginnie leadership, the groups said the substantial re-delivery restrictions have negatively impacted market liquidity for these loans...

Better.com still hopes to go public via a special purpose acquisition company maneuver...

FHA volume was incrementally higher in November, while deliveries of VA, Native American and rural housing loans were lower.

MBA says the system issues have caused significant delays and imposed costs on state-licensed companies.

The Civil Penalty Fund has not been used for consumer education or financial literacy for some years. Advocates say it is time to fund the education function.

A new Urban Institute report shows that owner-occupied purchase lending in predominantly minority areas, especially by banks, was disproportionately low. The same was true for loans to minority borrowers.

A significant increase in renewal volume combined with system upgrades left a portion of NMLS users unable to complete renewals. Meanwhile, some filers had to be refunded for incorrectly charged payments. CSBS provided guidance on how to proceed.

Two CBA executives argued that regulation by enforcement means compliant behaviors can change at a moment’s notice and cause confusion for the industry as firms try to interpret enforcement outcomes. Rulemaking and guidance, they believe, is the way to go.