JPMorgan Chase, Citi and Bank of America have committed funds to spur economic opportunities in underserved communities.

The final version of the disparate-impact rule shifts the burden of proof to show housing discrimination from lenders onto borrowers.

The merger between Genworth and China Oceanwide Holding Group has been extended for the 16th time. The new cutoff: Nov. 30.

Recently proposed legislation would raise the IRRRL fee from 50 basis points to 85 bps. Lenders are not happy.

The outlook for HECM lending remains positive as rates remain low and seniors move to tap home equity during these troubled economic times. (Includes data chart.)

Under the new policy, borrowers must have made at least three consecutive monthly payments post forbearance in order to refinance, down from the standard six-month requirement.

ClearPath Lending has been slapped with a $625,000 fine for deceptive advertising to veterans, bringing the total amount of fines issued by the CFPB to more than $3 million since July.

Industry attorneys aren’t quite certain how the government will interpret the use of disparate-impact theory in enforcing fair lending laws.

Consumer advocates have urged the bureau to increase the safe-harbor QM threshold for first liens to a rate spread of 200 basis points.

The decrease stems solely from servicers buying delinquent loans out of Ginnie Mae MBS pools.