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Inside the CFPB
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Don’t Worry, Nothing Will Derail the GSE Single-Security Project

June 8, 2018
John Bancroft
Treasury counselor Craig Phillips advised meeting participants to assure their bosses and government affairs offices that Treasury is fully committed to the project. “If you have problems, tell them to call me,” he quipped.
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What We’re Hearing: Time to Enter the Non-QM Market? / LoanScorecard is Bullish on the Sector / Citadel and AO Keep Humming Along / FTC Wants to Know More About How the RE Brokerage Industry Works / A Bunch of ‘Yes Men’ on the CFPB Advisory Board? / Mulva

June 8, 2018
Paul Muolo
To conservatives in the financial services industry, Mick Mulvaney is a hero.
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CFPB’s Enforcement Team Recommends Mulvaney Drop the PHH Case

June 7, 2018
Yemeng Yang
Acting CFPB Director Mick Mulvaney sent a list of questions to both sides on May 11 asking for recommendations on the case proceeding.
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MBA Board Picks Veteran Mortgage Banker Broeksmit to succeed Dave Stevens as CEO and President

June 7, 2018
Paul Muolo
Broeksmit, who has spent his entire 33-year career in the mortgage industry, joins MBA from Treliant Risk Advisors...
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CFPB, Freddie Mac Separately Urge Mortgage Borrowers to Shop Around

June 7, 2018
Brandon Ivey
A significant share of borrowers are missing out on thousands of dollars in savings…
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CFPB to Implement Dodd-Frank Reform Act, More Mortgage Compliance Relief is Possible

June 7, 2018
Most of the mortgage provisions in the recently enacted Dodd-Frank reform act will not take effect immediately and will require action by the Consumer Financial Protection Bureau.
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CFPB, Freddie Mac Separately Urge Potential Mortgage Borrowers to Shop Around When Considering a Lender

June 7, 2018
The Consumer Financial Protection Bureau and Freddie Mac released separate reports in May suggesting that potential borrowers should talk to multiple lenders when seeking a mortgage. The organizations noted that a significant share of borrowers are missing out on thousands of dollars in savings by neglecting to consider offerings from a variety of lenders.
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CFPB to Drop PHH Dispute Over RESPA Interpretation

June 7, 2018
Attorneys at the Consumer Financial Protection Bureau this week formally threw in the towel on the agency’s controversial interpretation of anti-kickback provisions in the Real Estate Settlement Procedures Act.
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MBA Makes the Case to IRS that Lenders are Eligible for 20 Percent Deduction Included in Tax Reform

June 6, 2018
Brandon Ivey
The trade group argues that if lenders organized as pass-through entities do not receive the new deduction, they will be at a competitive disadvantage...
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Mulvaney Wants to Make the CFPB a ‘Gold-Standard’ Regulator

June 6, 2018
Yemeng Yang
Interim CFPB chief Mick Mulvaney: “We are still closely associated with Sen. Elizabeth Warren. We are her baby. That’s not where a gold-standard regulator should be.”
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