The Trump administration last week nominated Jonathan McKernan — who was awaiting Senate confirmation as CFPB director — as undersecretary of domestic finance at the Department of the Treasury.

The House Veterans’ Affairs Committee marked up a bill to establish a partial claims program as the last-resort home retention option for borrowers with VA-backed loans.

The CFPB preserved several mortgage-related policy documents, as it undergoes a review of all previously issued guidance items under new leadership.

Among other changes, Fannie and Freddie increased the cap on interested party contributions from $500 to $2,500.

Researchers say that, at any given credit score, the cross-subsidies inherent in GSE pricing favor higher-income borrowers over lower-income borrowers.

MSR investors see risks and benefits in rising costs for property taxes and insurance; child receives offer from mortgage lender.

President Trump plans to nominate Jonathan McKernan as undersecretary of domestic finance at the Department of the Treasury. The news comes as a surprise as McKernan was slated to be the next director of the CFPB.

The appeals court later this month will consider the separation of powers and other arguments raised by the parties involved.

If passed by the full House and Senate, the CFPB would only have around 30% of its current funding availability.

Moving forward, the bureau will issue guidance only when necessary and if compliance burdens will be reduced.