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Volume 25 - Number 01

January 6, 2014

OIG Faults Bureau for Bringing Enforcement Attorneys to Exams

The Federal Reserve Board Office of Inspector General, as had been hinted at previously, issued a report last month critical of the CFPB’s practice of bringing enforcement attorneys to regular examinations. Numerous industry representatives privately said it was having a chilling effect on lenders during the exam process. The bureau recently decided it would cease the practice, and some industry insiders suspected the OIG’s then-pending report had a good bit to do with that decision. The OIG had already finished with the...

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HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

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