The Consumer Financial Protection Bureau is changing course on its previous decision to stop supervising lending to active duty service members. Kathy Kraninger, the newly confirmed director of the bureau, sent a letter to Congress on Thursday, asking for the "clear authority" to supervise for compliance with the Military Lending Act.
HousingWire Editor-In-Chief Jacob Gaffney recently interviewed United Wholesale Mortgage CEO Mat Ishbia for an upcoming HousingWire Magazine cover story detailing 2019's mortgage lending outlook. “It’s really a battle for the originator. Originators are coming to the broker channel, and I don’t think it’s much of a battle anymore, I think they’re leaving in droves from retail lenders,” Ishbia tells Gaffney.
Held steady by decreasing mortgage rates, homebuilder confidence in the market of new single-family homes stabilized in the month of January, increasing two points to 58, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index.
The Supreme Court declined to hear a Texas bank’s constitutional challenge to the structure of the Consumer Financial Protection Bureau on Monday. The State National Bank of Big Spring, Texas, claimed the CFPB’s “unprecedented, unchecked power” violates the Constitution’s separation of powers.
As the government shutdown drags on and 800,000 federal workers are going unpaid, experts at Moody's Investors Service issued a note of caution to mortgage lenders of all types, warning of an increase in mortgage delivery risk.
Century 21 Real Estate announced Monday that President and CEO Nick Bailey is stepping down, effective January 11. The real estate company's current chief growth officer, Michael Miedler, will take the reins as its new president and CEO. Bailey will remain an adviser until March 1 to ensure a smooth transition.