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US reported to switch sides, support PHH against CFPB

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Mortgage Professional America | 07 Mar 2017, 12:57 PM Agree 0
The United States government has signaled that it will now support the mortgage lender in its landmark case against the CFPB
  • not happy! | | 07 Mar 2017, 04:37 PM Agree 0
    Time to fire Trump and his cronies for repeatedly lying to the press and the public!
    Why would a President of the Unites States get involved in Micro-managing a country.
    CFPB's role has been to protect the Citizens from institutions that would take advantage of anyone if they could...why is that a bad thing?
  • Thankful | | 07 Mar 2017, 07:02 PM Agree 0
    THE CFPB and TRID are a nuisance, it does nothing more than to confuse people. Trump is the best thing that has happened to this country.
  • Amazed | | 08 Mar 2017, 02:43 AM Agree 0
    “It’s important to keep in mind that we are a law enforcement agency,” Cordray said in an interview with The Wall Street Journal at a financial regulation event. . .

    We have watched the CFPB in its enforcement capacity:

    1) Unilaterally Set (Vague/Complex) Rules,
    2) Unilaterally Police and Enforce the Rules,
    3) Unilaterally decide to act as Prosecuting Attorney,
    4) Unilaterally appoint itself as Expert Witness,
    5) Unilaterally determine that statutes were violated,
    6) Unilaterally determine that fines are appropriate.

    The CFPB then has the choice to enforce laws administratively thru an Administrative Law Judge (ALJ) or in court. What is amazing is that If CFPB doesn't like the decision of the ALJ, it can Unilaterally appeal the decision back to the CFPB Director (itself), and Unilaterally rule to increase the penalty (PHH).

    5) Unilaterally Acts as Judge,
    6) Unilaterally Acts as Jury,
    7) Unilaterally Acts as Executioner - Levies Fines. (Civil Monetary Penalty)

    Nowhere along the way was there a policing entity needing to convince a prosecuting attorney that there is a valid case.
    Nowhere along the way was there a prosecuting attorney that needed to convince a judge to hear the case.
    Nowhere along the way was there an impartial jury to decide whether the case had any merit.

    If you aren't exhausted, and have deep pockets, then you can to continue to fight, by appealing this decision to the U.S. Court of Appeals.

    If this structure is so great, then how do we feel about extending it to all of the other Governmental Agencies?

    While we are at it, if this structure is so great, how do we feel about extending this type of power to the Oval Office?

    Who in their right mind would unleash an unaccountable organization like this in America without the normal checks and balances?
  • Glad | | 08 Mar 2017, 12:46 PM Agree 0
    Love your comment! Amen!
  • Needs to go | | 17 Mar 2017, 09:48 AM Agree 0
    The CFPB has never been about protecting the consumer. It is a rouge enforcement which spends more to on it self while masking itself as Consumer protection. Why would they spend Billions of dollars in fees collected for the consumer to renovate their office space ?
    CFPB needs to go....
  • | | 23 Mar 2017, 12:48 PM Agree 0
    Amen
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