Despite a presidential directive to buy more MBS, the GSEs’ combined MBS holdings have declined for three straight months.

The trade group is concerned about a theory presented by plaintiffs that would make a directed institutional trustee liable for distribution and reserve decisions assigned by the governing instrument to others.

The Credit Union Investment Authority Act, introduced in the House last month, would allow credit unions to invest in ABS.

The agency likened the new deduction to interest deductions for mortgages while declining a request for additional information.

A conservative think-tank economist argues that the Fed should reduce its MBS holdings to support a more affordable housing market.

Rocket is offering a permanent 60-bp pricing incentive for agency loans and a broker referral bonus, while UWM extended a 90-bp pricing incentive and removed LLPAs on conforming jumbos.

The Mortgage Bankers Association argued that New Jersey’s disparate- impact rule forces lenders to choose between conduct federal law prohibits and potential liability under state law.

The bill would place the CFPB under the regular appropriations process, limit its authority to define financial practices as abusive and take away its ability to seek monetary relief in certain circumstances.

While industry trade groups expressed support for the proposed changes, consumer advocates said the bill was yet another effort by the Trump administration toward deregulation.

The OIG found that stop-work orders resulted in CFPB personnel temporarily not performing work on enforcement and supervision, while workforce-reduction actions had limited impact on operations.