Trump Budget Seeks Congressional Oversight of CFPB Spending

Feb 13, 2018

President Trump’s fiscal 2019 budget would realign the Consumer Financial Protection Bureau (CFPB) away from its current independent status and make it accountable to Congress.

According to a budget analysis published by The Hill, the CFPB would cease being funded by the Federal Reserve and would connect its funding to the congressional appropriations process. The budget would also give Congress control over the budgets for the Financial Stability Oversight Council and the Office of Financial Research, which are both funded by the Department of the Treasury.

“These changes would allow CFPB to focus its efforts on enforcing enacted consumer protection laws and eliminate the functions that allowed the Agency to become an unaccountable bureaucracy with unchecked regulatory authority,” said the White House in a statement.

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Phil Hall

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Feb 13, 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

Dallas, TX

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