Bill to Revamp CFPB Gets Support From Banking Groups

Bill to Revamp CFPB Gets Support From Banking Groups

A new legislative push to reconstruct the leadership of the Consumer Financial Protection Bureau (CFPB) in to a five-person commission has received strong support from leading financial services and business trade groups.

The proposed legislation–HR 1226, introduced by Rep. Randy Neugebauer (R-TX), chairman of the House Financial Institutions and Consumer Credit Subcommittee–would rename the CFPB as the Financial Product Safety Commission and would replace the Bureau’s director with a presidentially appointed five-member commission serving five-year terms. The initial commission members would serve on staggered terms to enable a scheduled turnover that prevents the White House from packing the commission in a single sweep of appointments. The commission’s chairman would also be a presidential appointment.
KEEP READING …

Leave a comment

Filed under News Affecting the Real Property Industry

County recorder expands electronic recording of documents (MN)

County recorder expands electronic recording of documents

Crow Wing County has expanded its e-recording services so more customers can file deeds, mortgages and other recordable documents …

Leave a comment

Filed under News Affecting the Real Property Industry

Big Banks Pass Muster in Latest Stress Tests

Big Banks Pass Muster in Latest Stress Tests
The New York Times | March 5, 2015
The nation’s largest banks appear to have the financial strength to survive a nightmarish world where unemployment soars, house prices plummet and Wall Street crashes, the Federal Reserve said on Thursday.

Leave a comment

Filed under News Affecting the Real Property Industry

FHFA Director Says HARP Can’t Last Forever

FHFA Director Says HARP Can’t Last Forever
M Report | March 5, 2015
Federal Housing Finance Agency Director Mel Watt said the FHFA would not continue renewing programs like the Home Affordable Refinance Program without an end, even if the program is extended again before its December expiration date.

Leave a comment

Filed under News Affecting the Real Property Industry

Massachusetts Court of Appeals Upholds MERS Rights

Massachusetts Court of Appeals Upholds MERS Rights
HousingWire | March 5, 2015
MERSCORP’s rights as mortgagee have come under fire in many courtrooms throughout the U.S., but a decision from the Massachusetts Court of Appeals reinforces the company’s right to assign a mortgage.

Leave a comment

Filed under News Affecting the Real Property Industry

Mortgage Rates Tick Down This Week

Mortgage Rates Tick Down This Week
The Washington Post | March 5, 2015
The 30-year fixed-rate average decreased for the first time in four weeks to 3.75 percent with an average 0.6 point. It was 3.8 percent a week ago and 4.28 percent a year ago.

Leave a comment

Filed under News Affecting the Real Property Industry

Venango County (PA) Begins E-recording with Simplifile

Venango County Begins E-recording with Simplifile

Simplifile’s e-recording service is now available in Venango County, Penn., enabling document submitters to send documents to the county online, …

Leave a comment

Filed under Industry Press Releases