Not only are Fannie Mae and Freddie Mac spending more money than they were a few years ago, but their proposed budgets are being submitted late, says the IG.

Anyone familiar with equities knows that shorting stocks can be a dangerous game. Then again, it's Ocwen...

Sources told IMFnews that one large loan origination system (LOS) vendor was struggling to make programming deadlines ahead of the TRID rule, a situation that had caught the attention of the CFPB.

One industry observer who anticipates a big-margin vote indicated he expects the bill will split rank-and-file Democrats from their leadership caucus.

One source, angered by Cordray's comments, said, "No, Mr. Director. Those concerns have eliminated non-QM loans, which come with protection against frivolous lawsuits. That’s why no one except a perfect borrower can get a loan…”

Cordray is pushing hard to see the guidance released before the Oct. 3, 2015, effective date of the TRID rule, which is Saturday.

Or as Marc Savitt of the National Association of Independent Housing Professionals put it: “Nothing will pass as long as Obama still has a pen…”

The CFPB alleged that expense accounts were really “point banks” and that payments in the form of bonuses and commissions were based on mortgage profitability...

The Texas Republican blamed the CFPB and DFA for raising prices and “cutting off" access to mortgages…

One industry observer saw the development as indicative of growing nervousness that the CFPB may be putting its Democrat allies on Capitol Hill in an awkward position...