WASHINGTON—Richard Cordray, director of the Consumer Financial Protection Bureau, defended his agency’s qualified mortgage regulations against recent criticism during the Mortgage Bankers Association annual convention here Oct. 28. (See more coverage on page 3.)
WASHINGTON — CFPB director tells confab that 95% of current mortgage lending will qualify.
Among Thursday hearings postponed by congressman's passing was session on proposed CFPB changes.
As the shutdown of the federal government entered its second week, private mortgage insurers alerted clients and potential clients they will insure mortgage loans if the Federal Housing Administration, operating with a skeleton crew, jeopardizes closing dates.
Private mortgage insurers have been alerting clients and potential clients they will insure loans whose closing have been delayed by federal shutdown.
Bureau says online tool will offer easy access to public mortgage information.
More evidence has appeared suggesting housing finance loans purchased by Fannie Mae and Freddie Mac are poised to get a bit smaller.
President Barack Obama laid out his initiative to reform the secondary mortgage market in a speech on Aug. 6 that trash talked Fannie Mae and Freddie Mac and voiced support for a Senate bill that would wind down the government sponsored enterprises and replace them with a mostly privatized system.
President rolls out his own plan to wind down Fannie and Freddie, a plan similar to Corker-Warner proposal in the Senate.
Hampel will appear at first hearing on Senate GSE Reform legislation.