Then there was Bert Ely who noted: "In my opinion, American housing policy is leading the country down the same path that led to the last housing bubble..."

It's always possible that Green Tree could turn around and sue HUD before HUD sues them, which is what Quicken Loans did.

A period with protection against liability would allow the CFPB to evaluate any unforeseen issues stemming from TRID.

The MBA is backing changes to how the CFPB functions...

First Ocwen, now Green Tree...

Quicken is the first major lender in the nation to challenge the government in this regard by filing a lawsuit.

The lender says government investigators have conducted lengthy depositions with numerous Quicken leaders…

Days after the full House of Representatives passed legislation that would amend the points-and-fees calculation in the CFPB’s ability-to-repay rule, the bill ran into some sudden resistance on the other side of Capitol Hill. H.R. 685, the Mortgage Choice Act, is a bipartisan bill that would clarify that certain affiliated title costs do not count against the “qualified mortgage” 3 percent cap on points and fees under the bureau’s ATR rule. H.R. 685, introduced by Rep. Bill Huizenga, R-MI, with dozens of co-sponsors from both parties, would exclude from the definition of points and fees all title charges, regardless of whether they are charged by an affiliated company, provided they are bona fide and reasonable. Lawmakers in the House passed ...

The odds that the CFPB will publicly announce or tacitly concede some degree of soft enforcement of its integrated disclosure rule, known as TRID, may have improved recently when two Republican Congressmen called on the bureau to give the mortgage industry such a break when the rule kicks in Aug. 1, 2015. “We strongly encourage you to make the August 1, 2015, to December 31, 2015, timeframe a ‘hold harmless’ period of restrained enforcement and liability,” said Reps. Blaine Luetkemeyer, R-MO, and Randy Neugebauer, R-TX, in a letter recently sent to CFPB Director Richard Cordray. “This would allow all parties to better understand the changes associated with TRID and help ensure consumer confidence and stability in the nation's housing market,” ...

The CFPB brought an enforcement action against RMK Financial Corp., a California-based mortgage lender, for allegedly using deceptive mortgage advertising practices, including ads that led consumers to believe that the company was affiliated with the U.S. government. According to the CFPB, RMK used the names and logos of the Department of Veterans Affairs and the FHA in mailed advertisements in such a way as to falsely imply that the ads were sent by the VA or FHA, or that the company or the mortgage products it advertised were endorsed or sponsored by those agencies. RMK’s ads also allegedly misrepresented the loans’ interest rates and estimated monthly payments, including whether the interest rate was fixed or variable. Consumers who called the ...