Industry groups stepped up their pressure on Congress to block a proposed rule that would alter membership requirements in the Federal Home Loan Bank system. The latest letter came this week and was signed by the Mortgage Bankers Association, National Association of Real Estate Investment Trusts, Independent Community Bankers of America and Habitat for Humanity International. The Federal Housing Finance Agency proposed...

Ginnie Mae executive Michael Drayne raised concerns about the growing reliance on subservicers and whether there’s enough capacity at these companies...

CFPB Director Richard Cordray believes the mortgage industry overreacted on the issue...

Cordray is pushing hard to see the guidance released before the Oct. 3, 2015, effective date of the TRID rule, which is Saturday.

Or as Marc Savitt of the National Association of Independent Housing Professionals put it: “Nothing will pass as long as Obama still has a pen…”

MBA chief Stevens said he and a “certain group of individuals” met with the HUD secretary last Friday to discuss the topic.

The CFPB alleged that expense accounts were really “point banks” and that payments in the form of bonuses and commissions were based on mortgage profitability...

The Texas Republican blamed the CFPB and DFA for raising prices and “cutting off" access to mortgages…

While nonbanks have taken a much bigger share of the servicing market, the top-ranked subservicer is Cenlar, a New Jersey-based savings bank.

One industry observer saw the development as indicative of growing nervousness that the CFPB may be putting its Democrat allies on Capitol Hill in an awkward position...