Rep. Ed Royce of California: "Money coming in from the GSEs should go to the taxpayers instead of a slush fund for ideological housing groups to play around with.”

The data to be reported under the CFPB’s proposal likely will inflame the current fair lending regulatory environment.

But is DocMagic president and CEO Dominic Iannitti done buying? Stay tuned…

Sen, Menedez added: “These [programs] were not the drivers of the financial crisis. We’re going to hear the opposite of that in the next session of Congress.”

The new plea from the CHLA comes at a time when depositories are losing origination market share to fast growing nonbanks like Freedom Mortgage, United Wholesale Mortgage and others.

Compared to two years ago, staffing levels at the CFPB have increased a whopping 55 percent. Of course, Congress has no say over the agency’s budget.

Because of the irregular nature of legal settlements and contractor backlogs, the FHA did not properly recognize its receivables, the IG said.

One source told IMF that in some instances, certain nonbanks have been asked by the agencies to hold “more capital” in reserve accounts than other seller/servicers.

Senate, House to Wrap Up 113th Congress This Week. The U.S. Senate and the House of Representatives are expected to wrap up the affairs of the 113th Congress this week, but it was unclear as of press time whether any pending CFPB-related legislation might make its way through the national legislature’s gauntlet and wind up on the desk of President Barack Obama. Last week, the House passed a large package of tax extenders. This week, House and Senate negotiators are expected to be busy working on appropriations legislation to keep the government funded for the remainder of the fiscal year. The 114th Congress is expected to convene on Jan. 6, 2015, with Republicans firmly in control of both chambers, presenting ...

The most recent work plan issued by the CFPB's Office of Inspector General indicates the results of a handful of audits are expected to be completed sometime during the fourth quarter, indicating that either they will be released within the next few months or held over until sometime after the start of 2015. One such review has to do with a joint evaluation of coordination between the CFPB and other regulatory agencies. The inspectors general of the Federal Reserve, the Federal Deposit Insurance Corp., the National Credit Union Administration, and the Department of the Treasury are conducting “an evaluation of the coordination between the CFPB and other regulatory agencies with respect to conducting supervisory activities,” said the OIG’s work plan. ...