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

From the Forums: CFPB whistleblower bites back

Notify me of new replies via email
Mortgage Professional America | 08 Sep 2014, 08:12 AM Agree 0
The MPA forums just had an interesting guest – the whistleblower who brought attention to the allegations of racial and gender discrimination at the CFPB
  • MP | | 08 Sep 2014, 11:09 AM Agree 1
    I think they should dismantle the whole agency. It's overspending and spinning out of control in just 4 short years.
  • Griff | | 08 Sep 2014, 11:19 AM Agree 1
    I agree, dismantle the agency and let the agencies that were in place step up and do their jobs. Save taxpayers the wasted money paying for folks to sit around and add more pages to a mortgage application and closing package. While they are at it, get rid of the AMC's. They are robbing consumers blind with their high fees and slopping appraisers.
  • BIlly Jim Bob | | 08 Sep 2014, 12:34 PM Agree 1
    I feel that at this point the CFPB needs to justify their own existence.

    They spent 600 per foot in remodeling their offices
    They have added 6 % to closing costs to a mortgage transaction
    They have caused great amounts of staff to be added to every entity in banking staff to accommodate their rules
    They have caused great expense to the industry


    Results ?
    Who are they helping ?
    If they did not exist who would be hurt ?
    What have they accomplished that is of tangible benefit to the people that they serve

  • Justice | | 08 Sep 2014, 12:41 PM Agree 1
    Close it down. Its true intent is to tax businesses with heavy handed, no choice settlements. Those fined pay up, because it’s cheaper than paying legal fees. The CFPB’s staff has no experience over what they’re regulating. They bully and harass honest hardworking professionals. They are arrogant, rude and discriminatory. The rules and regs they proposed and finalized during Cordray’s recess appointment are completely illegal. Someone needs to set up and sue over this
  • The all knowing | | 09 Sep 2014, 08:50 AM Agree 0
    Obviously those who would benefit the most to close the agency are those who caused the meltdown in the first place, Brokers, lenders, Goldman Sachs, the Countrywides etc... I guarantee that is who would benefit if the Agency was dismantled.

    As far as Ms. Martin is concerned, after she got her money and cushy settlements, she left the Union and refuses to pay a mere $19 a month to maintain her membership, while all along asking others to come forward to support her. After others came forward she abandons them. Her motto is "tell the truth" or shut up! I wonder if she has read the constituion about "freedom of speech!" Once all the facts come out we will really see who is telling the truth. [Hint: Not her!]
    • Lauren G, Taco Bell manager | | 10 Sep 2014, 02:42 AM Agree 0
      http://www.politico.com/story/2014/09/cfpb-union-tensions-110784.html
  • Lauren G, Taco Bell manager | | 10 Sep 2014, 02:42 AM Agree 0
    http://www.politico.com/story/2014/09/cfpb-union-tensions-110784.html
  • GH | | 10 Sep 2014, 10:24 AM Agree 0
    JUST ANOTHER GOVERNMENT SHAKEDOWN AGENCY WITH NO RECOURSE. I COMPLAINED TO HE CFPB ABOUT A BANK THAT KEPT OUR ESCROW , VIOLATED RESPPA AND MORE. I FINALLY JUST FILED A LAWSUIT IN MAGISTRATE COURT. THE CFPB GAVE SOME BOLOGNA ANSWER ABOUT THEY COULD N'T TELL US IF ANYTHING WOULD BE DONE. WHAT A WASTE OF TAXPAYER'S MONEY. A BRILLIANT RESULT OF THE IDIOT AT THE HELM AND FRANK WHO SCREWED THE SYSTEM AND OUT THE AMRICANS IN THE BIGGGEST DEFICIT. ANYONE WITH A SIXTH GRADE EDUCATION COULD REALIZE THERE JUST ISN'T ENOUGH INCOME(gdp) TO COVER THE SEVENTEEN TRILLION DOLLAR MESS. 14 OF IT CASUED BY OBAMA ADMINISTRATION.
  • GH | | 10 Sep 2014, 10:26 AM Agree 0
    GOTTA LOVE SPELL CHECK- I MEANT PUT NOT "OUT"!:
Post a reply