Republicans Attacking CFPB on Multiple Fronts

Republicans in Congress are pulling out all the stops to make sure that Richard Cordray is not confirmed to continue as Director of the Consumer Finance Protection Bureau (CFPB) and, indeed, that the Bureau is not allow to exist in its present form. Cordray currently serves as director through an interim presidential appointment in January 2012 after Republican senators made it clear they would not confirm Cordray or anyone else to the position. They admitted they had no objections to the qualifications...

Threat Of Rising Rates Poses Funding Risks For GSEs And Banks

The Federal Housing Finance Agency's (FHFA) Office of the Inspector General (OIG) has issued a white paper detailing how FHFA manages the interest rate risk faced by the two government sponsored enterprises (GSEs) Freddie Mac and Fannie Mae and the Federal Home Loan Banks (FHLBanks) it regulates. OIG did the study because the three entities face considerable risk of lose from fluctuations in prevailing interests rates ; an increase in rates of one percentage point could subject the GSEs to a loss...

• Mortgage Rates Struggle To Improve Despite Bond Market Strength
• RESPA and Dodd-Frank Conflict on Incentives; To Appraise or Not to Appraise, that is the Question
• MBS RECAP: Biggest Rally Since Italian Elections Barely Makes A Dent
• VantageScore 3.0 Released, Touts Big Changes
• Investors Shouldn't be Worried about FHFA's Plan to Merge GSEs -Report
• MBS Buying Clearly Helping, But May Need To Be Adjusted- Fed's Duke

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Around the Web

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• Equifax says probing unauthorized access of credit reports
• U.S. Credit-Card Charge-Offs Reach 6-Year Low, Fitch Report Says
• Elizabeth Warren Blasts Senate Republicans For Holding Up CFPB Nomination
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Today's Comments

	"I see $8,000+ seller credit if using the builders lender - that's not built into the price? You're a fool if you think for a second that it isn't..."
	"In our current regulatory environment, I am surprised the affiliate model has lasted this long. I don't see a long shelf life for practices as they..."
	"I certainly respect the risk and investment a builder makes - with very little certainty and assurance a transaction will close - but coercing buyers ..."

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