NAR attempted to recruit the help of the Federal Bureau of Investigation to crack down on fraud, but was told the bureau didn’t have the resources to pursue the patchwork of cases across the country.
Seth Appleton, president of USMI, promptly announced the PMI trade group’s support for Pulte’s efforts to align the GSEs’ policy regarding mortgage insurance.
Former CFPB Director Kathy Kraninger said a new bill from Republicans in the House will “protect consumers while providing certainty that is necessary for responsible institutions to serve their customers and innovate.”
FHFA director Bill Pulte expressed frustration that the credit bureaus haven’t sufficiently engaged in reform talks with FHFA, accusing them of “cartel-like” behavior.
H.R. 10184, the Consumer Financial Protection Accountability and Reform Act, would bring the CFPB under the congressional appropriations process, require cost-benefit analyses for rulemakings and stipulate periodic reviews of major rules to ensure their benefits justify their costs.