In spite of the influx of new human resource assets, banking regulators have a mixed effectiveness when it comes to compliance with their own Dodd-Frank obligations.
When Fannie Mae and Freddie Mac work with counterparties, they have contractual agreements that loans sold to them comply with federal and state laws governing the origination and servicing of mortgage loans.
With Senate Republican opposition to the structure of the CFPB showing no signs of faltering going into Congress spring break, speculation has begun to shift to what might happen at the bureau should the GOP again succeed in blockading Richard Cordrays nomination as head of the bureau. The Democrat-controlled Senate Banking, Housing and Urban Affairs Committee last week approved, as expected, President Barack Obamas nomination of Richard Cordray to be the director of the CFPB for a full, five-year term...