Under the new language, a loan meets the general QM definition if its annual percentage rate exceeds the average prime offer rate (APOR) for a comparable transaction by less than 2.25 percentage points.

Justice Stephen Breyer raised eyebrows by characterizing the net worth sweep as a nationalization of the enterprises. “That’s what they did,” he said. “If you look at their giving the net worth to Treasury, it’s nationalizing the company.”

Fannie suspended CRT issuance earlier this year when the FHFA proposed new capital requirements for the GSEs. Freddie, though, stayed in...

First elected to Congress in 2008, the African-American legislator began her public career in the Cuyahoga County Prosecutor’s Office in Ohio. She is not a member of the House Financial Services Committee...

The two FDIC researchers examined more than 11 million mortgages...

In June, community advocacy groups, including the NCRC, brought a lawsuit against the Office of the Comptroller of the Currency over its final CRA rule...

Mr. Cooper, U.S. Bank and PNC Bank collectively will pay $74 million to remediate impacted borrowers.

The proposal is modeled after the FHA's partial claims program, though there are differences...

MBA’s Michael Fratantoni: “The job market data for November showed an economic recovery that was slowing in response to the latest surge in COVID-19 cases. It is not surprising to see the rate of forbearance exits slow, as households that needed forbearance assistance in October may be in even greater need now.”

Mr. Cooper will pay a total of $91.3 million to settle allegations by 51 state attorneys general and the Consumer Financial Protection Bureau over servicing violations since 2014.