Purchase mortgages securitized by Fannie, Freddie and Ginnie in the first quarter of 2014 were down by 76.3 percent compared with the first quarter of 2013.
Mortgage-related complaints to the CFPB as of the first quarter of 2014 were down significantly compared with the previous year, though they increased compared with the fourth quarter of 2013.
The outage of Ellie Mae's Encompass systems at the end of the first quarter appears to be due to a malfunction on Ellie Mae's end, not a malicious attack.
The issue of the recess appointment of Richard Cordray as director of the CFPB may finally have been put to rest now, after the U.S. District Court for the District of Columbia dismissed the last remnants of a case brought by the watchdog group, Judicial Watch, under the Freedom of Information Act. Back in September, the court ruled that the CFPB had properly discharged its FOIA obligations in the case for all the documents at issue except one, an e-mail from a White House staffer to a CFPB employee. At the time, “the court agreed with the CFPB’s position that it was entitled to rely on the deliberative process privilege, the attorney client/attorney work product privilege, or the presidential communications...