Risk management and technology systems at the Federal Housing Administration lag decades behind Fannie Mae and Freddie Mac and desperately need to be revamped, according to a top official at HUD.
The bill aimed at helping struggling homeowners also requires documentation of servicer behavior and FHFA evaluation of the services provided to borrowers.
Montgomery was confirmed by the Senate 74-23 to serve his second stint at the FHA, where he previously was commissioner during the George W. Bush administration.
From falling originations to market share shifts for nonbanks and government loans, here's a look at key findings from the just-released 2017 Home Mortgage Disclosure Act data.
The latest fine from regulators is expected to be leveled against the bank as early as Friday. But it's far from the only penalty it has paid in recent years, and more may be on the way.
The dominant player in manufactured housing lauded the Trump administration's review of construction standards, but other commenters worry the plan will undermine housing quality.
HUD Secretary Ben Carson told lawmakers that overly rigid False Claims Act enforcement had forced lenders to suffer financially for what were just minor errors, but that lenders' fears of being sued were dissipating.
As policymakers take another crack at housing finance reform, federal leaders and the housing lobby are once again perpetuating the false notion that ending government guarantees would cause the 30-year, fixed-rate mortgage to vanish.
Recent developments in the Federal Housing Administration's Home Equity Conversion Mortgage program are making it easier for lenders to originate reverse mortgages to borrowers who want to buy a new-construction home.