At his first appearance before Congress as acting director of the Consumer Financial Protection Bureau, Mick Mulvaney restated his desire to reform the agency, while defending his leadership from Democrats’ harsh accusations that he is undermining the bureau.
Fitch said the $3 billion reserve should be sufficient to cover income volatility during “the normal course of business, as seen when interest-rate volatility results in valuation adjustments within the GSEs’ derivative portfolios.”
Mulvaney – a former GOP Congressman from South Carolina and a Tea Party acolyte – declared: “The Bureau’s new strategic priorities are to recognize free markets and consumer choice and to take a prudent, consistent, and humble approach to enforcing the law.”
Mark Garland, president of MountainView Servicing Group, Denver, reported that SRP prices are indeed strong these days. “Absolutely, it’s the best it’s been in years,” he said.
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