The CFPB responded that “none of the identified opportunities for improvement ever resulted in any breach of confidential information outside the bureau.”
Treasury Eyeballing CFPB Rules as Part of Regulatory Relief Review. The Treasury Department is focused on a wide range of regulatory requirements where simple communication and clarification of the regulatory intent is warranted, such as the CFPB’s ability-to-repay rule, the integrated disclosure rule and the Home Mortgage Disclosure Act rule, Craig Phillips, counselor to the Treasury secretary, said during a symposium in New York City last week, according to Inside Mortgage Finance.... Dodd-Frank Changes to be Discussed. House Financial Services Committee Chairman Jeb Hensarling, R-TX, is scheduled to discuss his Dodd-Frank Act alternative, H.R. 10, the Financial CHOICE Act, Tuesday of this week at an event at the American Enterprise Institute....
The purchase-mortgage business showed some green shoots in April, but not enough to offset another drop in refinance activity, according to a new Inside The GSEs ranking and analysis. Fannie Mae and Freddie Mac securitized $31.84 billion of purchase mortgages last month, a 12.2 percent increase from March. It was the third straight monthly gain in purchase-mortgage volume, bringing year-to-date activity to $123.46 billion, a 13.6 percent improvement over the same period in 2016. Purchase mortgages accounted for over half of GSE business in April for the first time since August of last year. But the refinance side of the business fell again in April, to just $25.49 billion. That was down 17.8...
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