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Home | News | Government (page 4)

DOJ Requests Argument Time in CFPB Case

The D.C. Circuit court allows for 30 minutes per side for oral argument. In its request for argument time, the DOJ stated that because “our position in this case does not fully align with either party,” it is requesting that “instead of sharing time with either party, we receive a total of ten minutes for the United States.”

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Industry Leaders Meet in D.C.

This week, top figures from the mortgage servicing industry and the government met in Washington, D.C., at the National Mortgage Servicers Association member meeting and the Five Star Government Forum. As part of their mission to advance growth in the industry, The NMSA met with Consumer Financial Protection Bureau Director Richard Cordray.

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Director Cordray Testifies Before the Financial Services Committee

Cordray defended the role of the CFPB in his prepared remarks, given the current debate surrounding the Bureau. In his opening statement, Financial Services Committee Charmin Jeb Hensarling (R-Texas) expressed surprise at Cordray’s appearance at the hearing, citing the president’s ability to remove the Director at will and reports that Cordray was to pursue an Ohio gubernatorial bid.

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Cordray Stands Up for CFPB in House Hearing

CFPB Director Richard Cordray will go before the Housing Financial Services Committee to address the Bureau’s two most recent semiannual reports. In his prepared remarks, Cordray is prepared to discuss credit reporting, financial incentives, and debt collection, among other things. He will also defend the CFPB’s purpose amidst the political debate currently encircling it.

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VA Home Loan Guarantee Program Faces Appraisal Problems

NAR’s 2016 Veterans and Active Military Home Buyers and Sellers Profile found that 18 percent of all recent homebuyers were veterans, and over half of those veterans used a VA loan to finance their home purchase. However, a number of roadblocks get in the way of appraisers giving veterans fair prices, such as compensation.

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Shaping the Future of Housing Policy

The annual Five Star Government Forum will host leaders from both the mortgage servicing industry and the government to discuss policy and reform. Speakers and panel discussions will cover the economy and the future of the market.

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Carson: Housing Funding to be Included in Infrastructure Bill

On Monday at the National Low Income Housing Coalition conference in Washington, HUD Secretary Ben Carson stated that the Trump administration will include housing funding in the infrastructure bill. Carson defended the Trump administration’s $6 billion proposed budget cuts to the Department of Housing and Urban Development, saying “no one is going to be thrown out on the street.”

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CFPB Defends Its Own Constitutionality

On Friday, the Consumer Financial Protection Bureau filed a brief defending the constitutionality of its single director structure, which has been called into question several times through the course of its ongoing case against PHH Corp. The brief, filed in advance of oral arguments, stated that the CFPB’s leadership model was not a violation of the Constitution’s separation of powers clause.

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