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Volume 25 - Number 2

January 20, 2014

CA Fed Court Rejects Morgan Drexen Challenge to CFPB

The U.S. District Court for the Central District of California has rejected a legal challenge to the constitutionality of the CFPB that was brought by debt relief firm Morgan Drexen, which became the subject of a bureau enforcement action after the filing. Back in July, Morgan Drexen sued the bureau in federal district court in Washington, DC, challenging the constitutionality of the agency, as well as accusing it of “data mining” and attempting to obtain sensitive bankruptcy information protected by attorney-client privilege...

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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.