Many people in the mortgage industry remain bent out of shape over the CFPB’s controversial online rate-checker tool, and some of the pent up frustration was on display during a hearing last week of the House Financial Services Committee. Rep. Stephen Fincher, R-TN, asked CFPB Director Richard Cordray, “This mortgage rate checker is something that is really muddying the waters. Why did the bureau post an incomplete and imprecise rate checker to help consumers when it’s not accurate? Where are you getting that information, and why did you do it prematurely?” Cordray replied, “It actually is quite accurate and it’s up-to-date, daily information.” He then cited the bureau’s concern that prompted the development of the rate-checker. “What we found is ...