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Volume 25 - Number 01

January 6, 2014

GAO Signs Off on CFPB Financials, Notwithstanding Two Deficiencies

In a recent report, the Government Accountability Office found that the CFPB financial statements as of and for the fiscal years ended Sept. 30, 2013, and 2012, were presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles. Also, the CFPB maintained, in all material respects, effective internal control over financial reporting as of Sept. 30, 2013, “although internal control deficiencies related to recording year-end accounts payable and accounting for property and equipment...

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.


No. It’s still difficult compliance/regulatory-wise.


Maybe. It’s under consideration.


Not now. But things could change as 2018 progresses.