With the most significant collection of regulations to hit the mortgage industry in decades just a few months away from implementation, mortgage lenders are feeling tremendous pressure and continue to clamor for relief from regulators. Last week, the Mortgage Bankers Association asked the Consumer Financial Protection Bureau for a grace period of six to 12 months before it takes enforcement actions under any of the new mortgage rules implementing the Dodd-Frank Act. “Since the rules were issued...

America’s Homeowner Alliance said it will defend low downpayment loans and the mortgage interest deduction.

The government is seeking due diligence reviews performed by Clayton, as well as all communication between the clients for whom the company performed such work.

Carrington Mortgage is in the market to buy residential servicing rights. Meanwhile, the mortgage application losing streak has ended.

Borrowers are given the option to either make a single, lump sum draw for adjustable and fixed-rate HECMs at closing or within the 12-month period after the loan closing.

In a letter dispatched to CFPB Director Richard Cordray, MBA stresses that mortgage firms are not being allowed enough time to properly comply with the January 2014 implementation of the bureau’s many new rules.

The Chicago ordinance, which took effect in November 2011, requires mortgage lenders to register vacant properties with the city and pay a $500 registration fee.

As reported by IMFnews late last week, Stewart Title is buying Allonhill, a due diligence firm based in Denver. Meanwhile, look for billions of dollars in NPL sales soon.

DataQuick believes property valuation is key to portfolio stability because lending is no longer just a credit decision anymore.

Joel Tillett and five other former employees were indicted in May on federal charges they conspired to defraud mortgage lenders by submitting loan applications that contained false information.