The Supreme Court refused to hear a case challenging the constitutionality of the CFPB. The case could lead to more presidential power over the consumer watchdog.
The nation’s megabanks reported weak origination figures and non-cash writedowns on their servicing assets for the fourth quarter. Wells Fargo, JPMorgan Chase, and USB suffered the most. [Includes one data chart.]
Four large nonbanks added over $10 billion each in new servicing rights tied to agency mortgage-backed securities during the fourth quarter. PennyMac padded its agency servicing portfolio by $20.95 billion. [Includes two data charts.]
Scheduled speakers included Housing and Urban Development Secretary Ben Carson, Kasper and Edward DeMarco, former acting Director of the Federal Housing Finance Agency.
Socialist Rep. Alexandria Ocasio-Cortez, D-NY, will sit on the House Financial Services Committee, which oversees banking, mortgages, as well as Fannie Mae and Freddie Mac.
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