When residential originations thrive, so does the warehouse lending sector, and 2012 was no exception.

The GOP wants to know why the CFPB has spent so much money on outside contractors.

Fannie Mae is working on changes that may give some mortgage bankers relief on buybacks.

Wall Street executives involved in MBS fraud may not be off the hook quite yet.

H.R. 450: The Bureau of Consumer Financial Protection Accountability Act, introduced by Rep. Bill Posey, R-FL, would amend the Consumer Financial Protection Act of 2010 to bring the CFPB into the regular appropriations process. The bill is a re-introduction of H.R. 1640 from the 112th Congress. Current status: referred to House Financial Services Committee. S. 190: The Restoring the Constitutional Balance of Power Act of 2013, introduced by Sen. Mike Johanns, R-NE, would prohibit the transfer of funds from the Federal Reserve that would be used by the CFPB “to carry out activities that are authorized...

Financial services companies: Do you want to get an information edge on your competitors? Inside the CFPB Editor Thomas Ressler now provides bureau-related news updates and insider nuggets throughout the day on Twitter and on Facebook. “This is more than a novelty,” Ressler explained. “There’s so much going on with the bureau, and in reaction to the bureau, that we just can’t fit everything into a biweekly newsletter.” Additionally, the latest electronic technological innovations provide editorial staff with...

Tuesday, March 12: Senate Banking, Housing and Urban Affairs Committee Chairman Tim Johnson, D-SD, plans to hold a hearing on the renomination of Richard Cordray to head up the CFPB. Inside the CFPB will send out a news alert later that day featuring our first quick take on the hearing, to be followed throughout the rest of the week with postings on our social media feeds. Complete coverage will follow in our next issue. Wednesday, March 13: The House Financial Services Housing and Insurance Subcommittee has scheduled a...

Ally Financial Under the CFPB’s Microscope. The CFPB is investigating certain, unspecified retail financing practices of Ally Financial, the lender revealed in its 10-K filing with the Securities and Exchange Commission last week. “It is possible that this could result in actions against us,” the company said. A company spokesperson declined to elaborate. An official at the CFPB said, “We do not comment on or confirm investigations.” The probe could stem from the lender’s retail call centers, as Ally did away with its...

The Federal Reserve Board Office of Inspector General has added to its agenda eight new planned projects related to the CFPB, according to the OIG’s current work plan, which was updated late last week. One of the new projects is an audit of the CFPB's civil penalty fund. “We plan to audit the CFPB’s use of the civil penalty funds associated with specific enforcement actions to assess the CFPB’s controls surrounding the use of funds to ensure that the agency complies with applicable Dodd-Frank Act requirements,” the OIG said in its...

The CFPB and state mortgage regulators appear to be hitting their stride in establishing a good working relationship when it comes to coordinating their examinations, including the development of an information-sharing protocol state officials hope will further improve efficiencies. Throughout 2012, representatives of the Multi-State Mortgage Committee of the Conference of State Bank Supervisors met regularly with various officials at the bureau to make sure examination scheduling and information sharing...