“Mortgage originators are looking at record earnings for the first quarter,” said Chuck Klein, managing director of Mortgage Banking Solutions, Austin, TX, a consulting firm engaged in warehouse reviews and M&A activity.
Though it believes the CFPB’s leadership structure is unconstitutional, the Department of Justice in a new reply brief urged the Supreme Court to preserve the bureau for its “critical work.”
The CFPB’s latest supervisory highlight report red flags mortgage servicing violations, where firms failed to provide loss-mitigation notices in time after natural disasters.
Brian Johnson, deputy director at the CFPB, has left the agency for a position at law firm Alston & Bird. His departure brings the tally of political appointees leaving the bureau to four.
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