Even as the Senate is expected to confirm her as director of the Consumer Financial Protection Bureau either this week or early next week, Kathy Kraninger remains largely a mystery to many CFPB observers.
The government charges, the “apples to apples” comparisons on refis shown to prospective customers by Village Capital’s LOs were flawed and had “inaccurate” results.
OCC examiners noted greater use of asset dissipation underwriting, a practice used to qualify borrowers using a “hypothetical income stream from their asset liquidation rather than debt-to-income ratios.”