THE CFPB’S FUTURE: As President Donald Trump moved into the Oval Office, the fate of Dodd-Frank and the Consumer Financial Protection Bureau hangs in the balance. Of particular interest has been the future of CFPB Director Richard Cordray. In fact, Democrats in Congress are banding together to make sure he won’t be prematurely unseated amid strengthening calls from Republicans to have the director fired. Congressional Democrats made public statements to defend and support Cordray’s full five-year term at the CFPB, which ends July 2018. MORTGAGE INSURANCE PREMIUMS: After the FHA reversed course in January and announced plans to cut its annual mortgage insurance premiums, some in the industry cheered the move to expand mortgage credit availability. “Every time we cut the cost of mortgage insurance it means more borrowers meet the debt-to-income ratio required to purchase a home,” NAR President William Brown said. But it was a short-lived victory, with HUD suspending the cut one hour after Trump was sworn in as POTUS.
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