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Republicans: CFPB director may have violated federal law

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Mortgage Professional America | 19 Jan 2017, 12:29 PM Agree 0
A report released by House Republicans alleges that the director of the CFPB may have violated federal law that governs rulemaking procedures
  • The Poobah | | 19 Jan 2017, 01:12 PM Agree 0
    Lol. Of course the report would have those conclusions. The House GOP has been gunning for Cordray from Day 1. Hensarling would have us return to the Wild West Days.
  • Griff | | 19 Jan 2017, 01:21 PM Agree 0
    Laws? What Laws? Don't you know we are in a new era? We no longer have to abide by laws or promises. Our supreme leader taking office this week is exempt from all rules and laws, including paying taxes. Therefore, we can feel free to do as we wish. Our kids, can do as they wish. They can lie, steal, cheat; it's ok now. Laws don't matter anymore.
  • glen | | 19 Jan 2017, 01:23 PM Agree 2
    You are an idiot. Nuff said.
  • sbharkness | | 19 Jan 2017, 01:28 PM Agree 2
    I agree with Glen. Enough Said.
  • Larry C | | 19 Jan 2017, 01:43 PM Agree 1
    Get rid if the entire agency.
  • Maureen | | 19 Jan 2017, 01:48 PM Agree 2
    What's wrong with you guys? The CFPB is an out of control rogue agency that answers to no one... Stop bashing a president before he even takes office. We are a nation of laws, too many laws and I hope this new president will reduce the federal over reach.
  • Holdon | | 19 Jan 2017, 01:52 PM Agree 2
    Richard Cordray was a "recess appointment" who never would have survived Congressional review. He overpaid the attorneys the CFPB hired because of their "special lending and real estate knowledge", only to have it revealed some of them signed-up for entry-level classes at Georgetown. Then he spent over $200 million to remodel his rented headquarters that was previously assessed at only $150 million. that makes his some of the most expensive office space in the entire country. Want to talk about him unilaterally increasing the PHH fine by $103 million because he decided the Administrative Law Judges fine of $6.4 million wasn't enough? How about the CFPBs wage-discrimination against minority employees? Yeah, this is all a vast right-wing conspiracy. He's obviously above reproach.....
  • JustFacts NoSpin | | 19 Jan 2017, 01:57 PM Agree 2
    @ The Poobah - please provide some facts that would support your comments.

    Please begin with your definition of Wild West Days. If you are referring back to the days of Democratic politicians, you can start with Bill Clinton's and his party's rewrite of CRA, creating his National Partners in Homeownership, and the taking over Fannie Mae & Freddie Mac (yes, you will find Barney Frank dirty hands as well) requiring Lenders to make No Income No Asset Verification mortgages to the "under-served" (code for bad credit no money).

    I then suggest you study Senate Bill 190 Federal Housing Enterprise Regulatory Reform Act of 2005 of the 109th Congress (2005 - 2006). The Democratic party shut down this Bill that would have reigned in the Democratic Party's "everyone has a 'right' to own a home" regardless of ability to repay the associated mortgage.
  • You'llSee | | 19 Jan 2017, 03:46 PM Agree 0
    He's not an idiot.... He is right!
  • Fed Up; but now hopeful | | 19 Jan 2017, 03:51 PM Agree 1
    Abolish the utterly fascist CFPB and repeal Dodd/Frank. Put the industry back in control of the industry; this time enforce the existing laws and don't bow to political pressure to make lousy mortgages!
  • Larry Thompson | | 19 Jan 2017, 03:54 PM Agree 0
    Amen.
  • Slim Pickens | | 19 Jan 2017, 04:16 PM Agree 0
    Griff - You are as delusional as BHO who has be the most abysmal, lying and self serving, anti-American public representative perhaps ever. Yeah, now there is a great example of for 'your kids' you seem to be so concerned for.
  • Sad | | 19 Jan 2017, 07:38 PM Agree 0
    You are a bigger idiot
  • The Poobah | | 19 Jan 2017, 10:12 PM Agree 0
    For the record, Fannie and Freddie got into the Stated Income game (they never did "bad credit" stated, BTW) because the GSE's were publicly traded, for profit companies (with implicit government backing) and the CEO's were trying to maximize share price and profitability and took progressively riskier bets (they were not "forced" to by Bill Clinton). The LACK of regulation led to the mortgage meltdown, period. Stop. Is the industry over regulated now? Sure it is. But the idiotic suggestion of repealing Dodd Frank in its entirety and shuttering the CFPB requires a healthy dose of revisionist history.
  • Truth | | 20 Jan 2017, 09:00 AM Agree 1
    The CFPB operates with an unlimited budget and no board oversight. None.

    Both are facts that make the CFPB a dictatorship. Not good for Americans.
  • Karen | | 20 Jan 2017, 05:58 PM Agree 0
    Right on Glen!!!!!!!!!!!!!
    And they are the same people who say only the uneducated voted for Trump
  • KAS | | 20 Jan 2017, 07:12 PM Agree 0
    Regarding FHA reversal of fee cut by President Trump

    I (a middle class- average person) definitely understand the disappointment in President Trump reversing the FHA fee cut; HOWEVER, I fully understand the necessity to make sure FHA can maintain above water. Hate to jeopardize the presence of ongoing FHA programs.


    President Obama appeared not to have been prepared to make this decision sooner in his term, but rather might have been pressured into doing it before his last days in office. Does feel like a political move rather than a move for the people.

    It is only proper that President Trump (then Pres-Elect Trump) should have been included on this last moment move as it was a matter of few days before his swearing into office. Now lets let President Trump do his due diligence. Dr. Carson also his misgivings or concerns about the sudden cut....

    Let's wait and see. I doubt if any of us so called average people know why the sudden last minute cut, and President Trump is not talking!
    Let President Trump talk for himself.


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