One area on the bureau’s short list is compliance under the Home Mortgage Disclosure Act.

Fed chairman Janet Yellen told legislators: “I think it is really very important for Congress to put in place a new system to address GSE reform. I think we still have a system that has systemic risk."

Among the changes on the table are disclosing the loan term, total points and fees, the length of any teaser or introductory rate, and the applicant or borrower’s age and credit score.

Mortgage originators note that because the rule is more than 1,800 pages long and was issued just 10 weeks ago, there has been little time to study it, let alone consider its implications.

The new service from Freedom Mortgage will handle all aspects of the mortgage transaction, from the initial customer call to closing and servicing of the loan.

Also, the CFPB is considering requiring more underwriting and pricing information, such as the interest rate, total origination charges, and discount points.

The Consumer Financial Protection Bureau also decided to eliminate the list of CFPB team members participating in a review.

Federal regulators have, for all intents and purposes, completed their work on the qualified residential mortgage standard. This means the final rule’s release could be imminent.

Will more commercial banks hold 30-year fixed loans in portfolio? Wells Fargo and JPM are doing it, but what if rates spike unexpectedly?

Storm clouds quickly gathered as Rep. Steve Pearce, R-NM, complained that the bureau’s QM rule and restrictions on high-cost loans would pretty much exclude manufactured housing – and then accused Cordray of deliberately trying to squash lower-income families.