As the implementation date of the Federal Reserve’s final rule on mortgage loan originator (LO) compensation nears, creditors, loan officers, mortgage brokers and loan correspondents are concerned about how the rule will affect their business and their wallets. They realize...

The Bureau of Consumer Financial Protection is expected to hire a private firm to develop a new, simplified form integrating mortgage disclosures required under the Real Estate Settlement Procedures Act and the Truth in Lending Act. About 80 percent of disclosures mandated by both TILA and RESPA will be whittled...

Revisions to Community Reinvestment Act regulations to support stabilization of communities affected by high foreclosure levels take effect soon. Starting Jan. 19, bank and thrift activities aimed at supporting eligible development activities in areas designated...[Includes two data charts]

Federal regulators are divided on whether to add national mortgage servicing standards to forthcoming risk-retention rules, and unless the agencies come to an agreement soon, risk-retention rulemaking could be seriously delayed. Regulators are hoping...

The Federal Reserve Board staff’s verbal interpretation of the loan originator compensation rule is greatly appreciated but mortgage lenders would rather have those opinions and advice in writing, according to the Mortgage Bankers Association. Meetings between members and officials of the MBA and Fed staff regarding...

Mortgage lenders are supporting proposed federal curbs on consumers’ right to rescind an illegal loan but consumer groups and state enforcement officials say loss of this legal weapon could weaken protections against abusive practices. A broad coalition of consumer and civil rights groups, state and local legal services providers, and public interest attorneys strongly urged...