The Smart Team of NOVA® Home Loans

Legal News; CFPB Reform Update; Fannie, Freddie, Conforming Lender Changes

Posted To: Pipeline Press

“Dance like no one is watching. E-mail like one day it may be read aloud in a deposition.” Here’s some pithier legal news. The Department of Justice is taking PHH’s side in the lawsuit over the structure of the CFPB. This is an amicus brief, and the judges may pay close attention, however the DC District Court of appeals is a liberal stronghold and will probably side with the CFBP. Many believe that the CFPB, however, would need DOJ on its side if it goes to SCOTUS. Former U.S. solicitor general and current Gibson Dunn partner Ted Olson is not a fan of the CFPB . Olson was on Capitol Hill yesterday, where he testified at the House Financial Services Committee about the CFPB. “The CFPB’s structure is the product of aggregating some of the most democratically unaccountable and power…(read more)

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Source: Mortgage News Daily

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