CFPB Requests $0 for Q2 Expenses

Jan 19, 2018

It what may be a historic first, the Consumer Financial Protection Bureau (CFPB) is not requesting any federal funds to cover its quarterly expenses.

According to a USA Today report, CFPB Acting Director informed Federal Reserve Chairwoman that his agency had $177.1 million left over at the start of the federal government's 2018 fiscal year in September. The agency is projecting its second quarter expenses to total about $145 million, thus giving the CFPB enough funding to operate without a new financial transfusion from the Federal Reserve, which funds the CFPB.

"I have been assured that the funds currently in the Bureau Fund are sufficient for the Bureau to carry out its statutory mandates for the next fiscal quarter while striving to be efficient, effective, and accountable," Mulvaney wrote to Yellen.

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Phil Hall

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Jan 19, 2018

Courts

UWM Seeks More Than $500M From Two Harbors After Failed Deal

Lender alleges Two Harbors undermined their merger and steered the company toward CrossCountry, turning a costly acquisition failure into a federal court fight

The fight over Two Harbors Investment Corp. did not end when shareholders approved its sale to CrossCountry Mortgage.Now United Wholesale Mortgage wants damages.UWM Holdings Corp. and UWM Acquisitions 1 LLC sued Two Harbors in federal court Monday, seeking more than $500 mil...

Wholesale

UWM Offers LOs 90-Bps Incentive On One Agency Loan

Bullseye 90 can be applied to a conventional or government purchase or refinance loan through Sept. 8

United Wholesale Mortgage is giving each loan originator a one-time, 90-basis-point pricing incentive to use on a qualifying agency loan.The wholesaler’s new Bullseye 90 program applies to new locks from Aug. 5 through Sept. 8 on conventional, FHA, VA, and USDA purchase and ...

Sep

San Francisco, CA

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