Even though machine learning and other forms of artificial intelligence have made the mortgage industry much more efficient, experts are less optimistic it can reduce racial inequity in the system.

The guidance outlines when consideration of a credit applicant’s immigration status could violate the Equal Credit Opportunity Act.

In a review of the Federal Home Loan Bank system, the Federal Housing Finance Agency riled some mortgage industry participants by failing to endorse expanding FHLBank membership to include nonbanks.

New guidance from the Financial Stability Oversight Council makes it easier for FSOC to increase regulatory requirements for large nonbank financial companies. The move doesn’t sit well with the mortgage industry.

Cenlar, the largest subservicer in the mortgage industry, has been on a middle- and senior-manager hiring spree the past 18 months as it tries to meet the demands of an OCC consent order filed two-plus years ago.

Consumer Financial Protection Bureau Director Rohit Chopra recently advocated for a Community Reinvestment Act-like regime for nonbanks at the state level. Trade groups reiterated their opposition to such a move.

Former Sprout Mortgage CEO Michael Strauss is avoiding the residential market following regulatory scrutiny in Illinois.

Mr. Cooper said customers would not incur fees, penalties or negative credit reporting due to late payments related to the shutdown.

Lower benefits for credit losses and an adverse decision in court undercut slight increases in revenues for Fannie Mae and Freddie Mac.

A hearing of the Federal Financial Institutions Examination Council’s Appraisal Subcommittee covered gaps in appraisal training and the lack of appraisers in rural areas.