Mortgage Professional America forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Democratic lawmakers join battle between CFPB and PHH

Notify me of new replies via email
Mortgage Professional America | 30 Jan 2017, 01:12 PM Agree 0
Last year, a court ruled that the CFPB’s structure was unconstitutional. Now two prominent Democrats want to join the appeal to fight that decision
  • Ken A | | 30 Jan 2017, 02:45 PM Agree 0
    Wow, these idiots can't read the handwriting on the wall. The CFPB is the closest thing we have to a Nazi oppression. The court didn't rule out the CFPB, just the way it is lead and it needs to be accountable to the people and congress who we send to handle these things. Two simple changes and they can get back to work stopping the bad actors in the financial services industry. We do need the CFPB, just not a dictatorship lead agency.
  • concerned mort rep | | 30 Jan 2017, 04:21 PM Agree 0
    They don't understand that all of the obscene compliance and law suits just drive up the cost for the consumer. They don't get it because they have never run a business. Maybe they think that all of these companies that are being sued to the wall will just agree to make less money. NOT GOING TO HAPPEN! We all pay the price!
  • gary h | | 30 Jan 2017, 06:52 PM Agree 0
    Time to disband the CFPB and the Dodd Frank . This Nazi regime has hurt the small business owner, the consumer and has destroyed real estate values. A home is worth what a buyer in an open market is willing to pay. Not what the bank determines it to be. Also Is't it true that Barney Frank owns an appraisal management company. Isn't that a conflict of interest for a co sponsor of a bill to benefit from the legislation that they introduced?
  • JB | | 09 Feb 2017, 03:37 PM Agree 0
    The CFPB has done more for the distressed homeowner than any other agency and provided relief to victims of predatory Lending. Also wit without HAMP we would have lost our home we successfully did our 6 years and are waiting for PHH to get there just due. They have made us absolutely miserable in trying to get our mortgage mod. They told us not to pay for 3 months or we wouldn't even be considered for one. They denied our first attempt we hired a document processor and around 8 months later we finally got approved. Now PHH is in court with the CFPB and if they win they might get away with all of the illegal injustices they have purported on mortgage mortgagors(homeowners). Please we need justice as do hundreds of thousands of homeowners.
Post a reply