Finance of America – a Blackstone Group portfolio company – has agreed to pay $14.5 million to the government to resolve allegations that its operating subsidiary, Gateway Funding Diversified Mortgage Services, knowingly endorsed ineligible loans, resulting in losses to the FHA insurance fund.

The Consumer Financial Protection Bureau has filed a complaint and a proposed settlement against a Nevada lender for misleading borrowers on the benefits of VA streamline refinancing.

The FHA has announced that protocols in place for second appraisal requirements for certain Home Equity Conversion Mortgage loans are now fully automated.

The Department of Housing and Urban Development has issued a final rule streamlining single-family home-warranty requirements for FHA insurance.

Mortgage broker trade group introduces NAMB All-In. Genworth launches risk-based pricing engine. VA updates fee-cost schedule. Industry groups pressure Senate to confirm Trump nominee for GNMA.

The Senate late last week narrowly confirmed Kathy Kraninger as director of the Consumer Financial Protection Bureau. In her first public remarks, the new director set a more moderate tone for the watchdog agency than recently departed acting Director Mick Mulvaney did during his tenure.

The home-equity market peaked back in 2007 at $1.133 trillion in outstandings. It has been in an 11-year swoon since then.

Marshall has a long resume in financial services, including stays at Bank of America, The Blackstone Group and other shops…

Loans from 36 lenders will be included, led by Sprout Mortgage with a 43.3 percent share.

The complaint further alleges that company executives have been aware of the poor EPD rates since 2011 but apparently did nothing to resolve the problem.