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.
A court settlement has forced the CFPB to outline proposed rulemaking on data collection requirements in the small-business lending space no later than September.
CRA proposal comment period extended; enforcement against brokers charging high interest rates; CFPB advisory committee meetings; New York mortgage-related complaints; new servicing requirements.
According to industry consultant Joe Garrett, the typical residential mortgage company sale of the past few years has been an asset sale with a three-year earn-out.
Important lessons learned this week: What goes up, must come down; mortgage rates don't always track the 10-year Treasury; stock speculation (Fannie/Freddie) is not for the faint of heart...
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