Two-thirds of the nearly 2,000 real estate agents that responded to a Campbell Communications and Inside Mortgage Finance survey want mortgage closings in 30 days or less.
Just how hot is the jumbo MBS market? Consider this: Some $3.95 billion in non-agency jumbo MBS was issued in the first quarter, compared with $3.46 billion in issuance in all of last year.
New Treasury Secretary Jack Lew chaired the regularly scheduled meeting of the Financial Stability Oversight Council, of which the CFPB is a member, in a closed session at Treasury last week. The CFPB, which is using the disparate-impact standard as the basis of its actions, is assigning a fair lending staffer to every supervision exam; conducting fair lending investigations; and striking alliances with the Department of Justice, as well as the Department of Housing and Urban Development and other regulators, weve been told...
The CFPBs contract solicitation and selection processes are generally in compliance with federal regulation, but the bureau could do more to shore up internal controls, according to the results of an evaluation by the Federal Reserve Board Office of Inspector General.We found that the CFPBs processes and practices were compliant with particular Federal Acquisition Regulation requirements, such as performing acquisition planning and market research, providing opportunities for companies to compete for CFPB contracts, and...
Two major auto dealer trade groups have some serious objections to the guidance the CFPB put out last month on auto lending, particularly taking issue with whether the CFPBs position on dealer rate participation is going to make much difference in helping car buyers. The National Automobile Dealers Association and the National Association of Minority Automobile Dealers said the guidance issued by the bureau attempts to force auto finance sources into changing the way they compensate dealers without any indication that...