Rod Alba of ABA offered up this sobering thought: for violating the TRID rule, lenders could be fined up to $5,000 per violation, per day.

Wells Fargo is close to reaching a $25.75 million settlement of a class-action lawsuit involving delinquent borrowers who were charged fees for property inspections. The settlement would resolve allegations of violations of the Racketeer Influenced and Corrupt Organizations Act, among other issues. The bank has denied the allegations while noting that it desires to settle the lawsuit to avoid “the burden, expense and uncertainty of continuing litigation.” The lawsuit, Young v. Wells Fargo ...

A significant shift occurred in bank loan modification practices in the third quarter of 2015, according to data from the Office of the Comptroller of the Currency. Major banks’ use of proprietary loan mods declined sharply compared with the previous quarter while the number of Home Affordable Modification Program mods was nearly level in that span. The OCC’s data cover eight banks with a combined $3.73 trillion servicing portfolio, 42 percent of all outstanding first-lien residential mortgages ...

An analysis of the first in a wave of loans that were modified after the financial crisis suggests that interest rate resets required by the Home Affordable Modification Program are not causing a spike in delinquencies. The predominant loan mod completed under HAMP reduced a borrower’s interest rate to as low as 2.00 percent for five years, then required a yearly 1.00 percentage point increase to the interest rate until reaching the primary mortgage rate in effect at the time of the mod ...

The FHFA also is promising to evaluate GSE underwriting criteria to improve access to single-family credit...

The supply of home mortgage debt outstanding increased by 0.5 percent during the third quarter of 2015, following a similar modest gain during the previous period. A total of $9.952 trillion of single-family mortgage debt was outstanding at the end of September, according to a Federal Reserve report released late last week. It represented a second consecutive quarterly increase, something the mortgage servicing market has struggled to accomplish during the long contraction that started back in 2008. Most of the increase came...[Includes one data table]

Subservicing shops increased their portfolios to $1.50 trillion during the third quarter, a 6.4 percent sequential gain, as mortgage originators continued to rely on such specialty vendors, according to exclusive survey figures compiled by Inside Mortgage Finance. Compared to a year ago, subservicing volume was up an impressive 28.2 percent. At Sept. 30, roughly 15.8 percent of all outstanding residential mortgages were being processed...[Includes one data table]

Lenders generated $25.0 billion in home-equity loans during the third quarter of 2015, according to Inside Mortgage Finance estimates, a modest 4.2 percent increase at a time when first-lien originations were fading. Home-equity lending – including open-ended lines of credit and closed-end second liens – hit its highest volume since the second quarter of 2008. Crashing home prices and extremely cautious underwriting have drastically reduced new home-equity lending. There is...[Includes three data tables]

Make no mistake about it, Ally – whose financing roots can be traced to General Motors – has no visions of grandeur in residential finance.

Some other CFPB mortgage-related issues could come up for discussion, such as a hold-harmless enforcement period under the bureau’s new TRID rule...