Consumer Financial Protection Bureau (CFPB)

The bank confirmed on Monday that they are being investigated by the U.S. Securities and Exchange Commission.

Not the first time a court has ruled the bureau violates the Constitution.

The 2023 threshold will involve exempting loans from special appraisal requirements for higher-priced mortgage loans.

The lawsuit claims the CFPB is exceeding its statutory authority outlined in the Dodd-Frank Act.

Agency seeks information on refinances, mortgage products to promote competition and support household financial stability.

CFPB report also reveals the official end to the refinance boom and shift to home purchase loans in 2021.