Senator Introduces CFPB Reform Bill to Replace Cordray with Five-Member Commission

Senate Republicans have fired the first two shots in a renewed battle over the Consumer Financial Protection Bureau ( CFPB ). President Barack Obama recently submitted the name of Richard Cordray , who has served as CFPB director since January 2012, for full Senate confirmation to the post. He had recess-appointed Cordray when Senate Republicans made it clear they would not confirm anyone, regardless of their qualifications, to the post. On Friday Senate Minority Leader Mitch McConnell and 42 other...

Home Prices Show Largest Annual Increase in Nearly Seven Years

Home prices in December posted the largest annual increase in nearly seven years according to CoreLogic's Home Price Index (HPI) report. December was also the 10th consecutive month in which home prices increased nationally. The index that included distressed sales (sales of owned real estate and short sales) increased by 8.3 percent compared to December 2011, the largest increase since May 2006. With distressed sales excluded the HPI increased 7.5 percent year over year. Prices were up 0.4 percent...

• Abrupt Reversal For Markets Leaves Rates At Recent Highs
• Bill Proposes End to Fed's Stimulus Role, Return to Single Mandate
• MBS RECAP: Eerily Sideways Session After Starting Weaker
• VA IRRL Performance; Goverment Goes After Rating Agency; HARP 3 Chatter
• Details Emerge on DOJ Lawsuit Against S&P Over RMBS Ratings
• MBS MID-DAY: Treading Water Near Weakest Levels

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Around the Web

• Rep. Waters asks for hearing on foreclosure review
• Think the Bond Bull is Dead - Think Again
• Bernanke Voiced Alarm Over Credibility of Ratings Firms
• S&P Analyst Joked of 'Bringing Down the House' Ahead of Collapse - Businessweek
• Ally working to repay Treasury stock in "near future"
• Fed's Bernanke to testify on monetary policy on February 26-27

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Today's Comments

	"Jeff...if you plan on being in the house long term refi now into a 22 year term in the low 3's fixed. Remember to thank me in a few years. Do it soon..."
	"another way to look at it is "FHA can't keep foregoing billions in MIP if they are going to continue to make 3.5% down mortgages, as they have..."
	"Ronnid--I agree with you--but the answer is in this statement: the problem for the consumer is they have no idea of the trust cost of protection. But you..."

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