FHFA leaving g-fees alone, revising primary mortgage insurance requirements

FHFA leaving g-fees alone, revising primary mortgage insurance requirements

Move will lower fees for riskier borrowers; change is ‘revenue neutral’

Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics

Groups cite Ocwen as leader in preventing mortgage defaults

Court filing reveals name of anonymous whistleblower in Zillow/Move lawsuit

Former Zillow VP of Strategic Partnerships wrote the letter
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Neugebauer: Congress should have oversight over CFPB

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The new Consumer Financial Protection Bureau, which will have policing power over mortgage disclosures through the Truth in Lending Act, is in the crosshairs of a Texas congressman who believes the agency lacks oversight. The CFPB, which is still seeking a director, is set to launch July 21, but Rep. Randy Neugebauer  (R-TX) has introduced H.R. 557, which if passed, would merge the CFPB into the Treasury Department. "Given the significant and perhaps over-regulating powers the CFPB has been given by the Obama administration, Congress must have a say on the appropriation of taxpayer money funding this agency’s operation," Neugebauer said. The CFPB is currently under the purview of the Federal Reserve Board. Neugebauer said moving the agency will allow Congress to examine the CFPB's actions and their effects on the overall market. Write to Kerri Panchuk.

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