Items Tagged with 'Consumer Financial Protection Bureau'

ARTICLES

TRID trouble? CFPB tools give exclusive advice, tips

Here's how to successfully navigate TRID
Regardless of how many preventative programs, meetings and discussions a company has surrounding TRID, it can’t trump the tools the Consumer Financial Protection Bureau, the enforcer of TRID, is giving out. Want some advice? These tools are what you need for TRID.
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Bernie Sanders hints at Elizabeth Warren as potential VP

Doomsday scenario for Wall Street?
While the presidential campaign of Bernie Sanders may be facing some mounting odds, Sanders is still a viable and active candidate, and still has at least a theoretical chance of winning in November. And while his odds may be long, that isn't stopping Sanders from floating a name of a potential running mate that would send a serious shiver down the collective spine of Wall Street – Elizabeth Warren.
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Wall Street Journal lays waste to CFPB in scathing editorial

Calls agency an 'offense to constitutional governance'
While the Consumer Financial Protection Bureau is fighting to uphold its authority in a federal court, the governmental agency, which so often finds itself in the crosshairs of legislators and the financial industry, has a new enemy in the form of the Wall Street Journal's editorial board, which authored a scathing takedown of the CFPB, questioning whether the agency is operating outside of the parameters of the Constitution.
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There may be a future for TRID securitizations yet

Despite lack of guidance from CFPB, SFIG due diligence grades provide clarity for investors
Six months hasn't been enough time for investors to feel comfortable evaluating loans under the new TRID disclosures, stifling secondary market trading and increasing costs to lenders. With little direction on what to do in regards to TRID from the CFPB, a new proposal from an industry group could be the key needed to revive the market.
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Is TRID hysteria over? Time to close drops to 12-month low

Looks like lenders finally figured this thing out
Well, more than six months have passed since the implementation of the Consumer Financial Protection Bureau’s TRID rule. And it appears that, despite the initial hiccups and headaches, lenders finally have a handle on this whole TRID thing.
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House Financial Services Committee approves bill to rein in CFPB budget

Hensarling: We will continue to debate the activities of this particular rogue agency
The Consumer Financial Protection Bureau, long a target of Republicans on Capitol Hill, is in the crosshairs again, as the House Financial Services Committee approved a bill Wednesday that would bring the CFPB’s budget under Congressional oversight. The CFPB's budget currently comes from the Federal Reserve, which has no oversight of the bureau.
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Appeals Court questions constitutionality of CFPB, attacks Director Cordray

D.C. Circuit 'hostile' towards the CFPB
The opening rounds started in the legal battle between PHH and the CFPB as the U.S. Court of Appeals for the District of Columbia Circuit heard oral arguments on Tuesday. Right now, it doesn't look too great for the CFPB Director. One commenter on the hearing put it best, calling the oral argument the Super Bowl for the CFPB.
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Elizabeth Warren pushing CFPB for more oversight of nonbank mortgage servicers

Joins with Congressman Elijah Cummings to call for increased regulation
In a letter sent Monday to Consumer Financial Protection Bureau Director Richard Cordray, Sen. Elizabeth Warren and Rep. Elijah Cummings called on the CFPB to increase its oversight of nonbank mortgage servicers, citing a report from the U.S. Government Accountability Office on the rise of nonbank servicers and CFPB's lack of information about them.
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CFPB names six new senior leadership roles

Will continue to carry out mission of 'protecting consumers'
The Consumer Financial Protection Bureau announced it filled a lot of senior leadership roles, naming six new appointments at the bureau. CFPB Director Richard Cordray commented on the announcement saying, "These talented individuals will help us carry out our mission of protecting consumers and making markets work for everyone."
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Collingwood Group Chairman calls out 'regulatory Jihad' on mortgage lenders

Tim Rood says regulations actually seriously harming borrowers
There is little doubt that there are more regulations foisted upon the mortgage industry in the wake of the housing crisis. Count Tim Rood, the chairman of The Collingwood Group, among those who think the regulatory environment is smothering mortgage lenders, going so far as to use a shocking term to describe the current lending environment.
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