Kraninger’s CFPB Hearing Set for July 19

Jul 02, 2018

Kathy Kraninger, President Trump’s choice to serve as the next Director of the Consumer Financial Protection Bureau (CFPB), will receive a confirmation hearing before the Senate Banking Committee on July 19.

Kraninger, who is currently Associate Director of the Office of Management and Budget (OMB), is expected to receive harsh questioning by the committee’s Democrats, especially Sen. Elizabeth Warren (D-MA), who has threatened to put a hold on the nomination unless Kraninger turns over documents and e-mails related to whatever role she might have played at the OMB in formulating the Trump Administration’s Zero Tolerance Policy related to illegal immigrants. Warren has also gone as far as to demand the U.S. Chamber of Commerce withdraw its support for Kraninger. For her part, Kraninger has not publicly commented on Warren’s actions.

The Senate Banking Committee has also scheduled confirmation hearings on July 24 for two addition Trump nominations: Elad L. Roisman, who was chosen to fill the seat of departing Securities & Exchange Commissioner (SEC) Michael Piwowar and Michael R. Bright to Ginnie Mae.

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Phil Hall

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Jul 02, 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

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