Following through on a threat made in January, the states of New York, Connecticut, Maryland, and New Jersey are suing the federal government over the Republican tax reform bill, which President Donald Trump signed into law late last year. At issue is the Tax Cuts and Jobs Act’s elimination of certain state and local tax deductions, which the states claim are disproportionately harmful to their residents.

As the number of prime borrowers dries up, investors are showing an increased appetite for non-prime loans, which are markedly different from the subprime lending that was a hallmark of the financial crisis.

While regtech is a relatively new concept in the mortgage industry, it has already gained a great deal of traction in other parts of banking and financial services. Craig Focardi, a senior banking analyst at Celent, talks with HousingWire about what makes regtech different from mortgage tech and how you shouldn't be afraid to make the leap into adopting new technologies.

In an overwhelmingly bipartisan effort, Reps. Hensarling and Waters announced they reached an agreement on a package of bipartisan legislation to push economic growth. Here’s more on the package of 32 legislative pieces the House Financial Services Committee put together in its new bill.

Three members of a California family who ran a foreclosure company will spend more than 45 years in jail, collectively, after each was found guilty of participating in a $20 million mortgage fraud scheme that preyed on financially distressed homeowners. According to the Department of Justice, Dorothy Matsuba, her husband, Thomas Matsuba, and her daughter, Jamie Matsuba, each received a sentence of more than 10 years in jail for taking part in the nearly decade-long scheme.

New York City is in the middle of an affordability crisis, and now, the city is proposing sweeping new rules to address one piece of the affordability crunch that often stands in the way of renters finding a quality apartment or moving to a new one – the security deposit. Over the weekend, the city released a new proposal that would put limits on how much landlords can charge renters upfront.

In the first half of 2018, Bank of America reported a record first half with its net income of $13.7 billion. But this increase is despite a drag from mortgage banking income, which partially offset gains in the bank’s noninterest income.