In a scenario that Fannie and Freddie exit conservatorship, Urban Institute analysts believe that the courts will allow the uniform MBS to persist, even though it requires coordination between the GSEs that could invite antitrust litigation.
GSEs delay UCD timeline; updates on Pulte’s legal battles with Trump opponents; Fed’s MBS holdings continue to dwindle; Opendoor to partner with Fannie’s Title Acceptance Program.
Consumer advocates said Texas-based developer Colony Ridge’s $68 million proposed settlement with the DOJ and the state’s AG doesn’t provide relief for the harmed consumers.
The Trump administration claimed that federal courts have no authority to prevent it from carrying out its duties, while the NTEU argued that blocking a planned reduction-in-force at the CFPB is essential to ensure the agency still exists at the conclusion of the lawsuit.
The settlement, which didn’t include a civil money penalty or restitution, appeared to reflect the DOJ’s realigned view that Colony Ridge provided a haven for illegal immigrants. The CFPB, which originally filed the complaint with the DOJ, dismissed its claims against Colony Ridge.
A November plan to transfer the bureau’s active enforcement actions to the Department of Justice appears to no longer be in the works, according to an industry attorney.
The move clarifies that the Equal Credit Opportunity Act doesn’t prohibit lenders’ consideration of immigration status when evaluating credit applications.
Fed Chairman Powell said the investigation is a pretext and the real crux is the Fed's refusal to comply with President Trump's calls to lower interest rates.