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.
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.
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.
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.
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...
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.”