From John Councilman, NAMB Immediate Past President email@example.com. You may have noticed that News From NAMB is not just links to other media stories but also goes to primary sources. News From NAMB is different because we find important information that may not be reported elsewhere and we comment on why it is relevant to you, often in a fun way. Best of all, it is free to NAMB members. News From NAMB is sponsored exclusively by United Wholesale Mortgage.
Monday, October 17, 2016
This has been an interesting week, as the U.S. Court of Appeals for the District of Columbia ruled the structure of the CFPB unconstitutional and vacated the $103 million fine against PHH. The Court ruled that the CFPB’s current structure allows the Director to wield too much power, far more than any other agency in government. This ruling opens the door to another case of a small Texas bank that also challenges the Bureau’s authority. NAMB’s Government Affairs Committee will keep you informed on this topic and some others in the future. This topic will be in the headlines for weeks to come, so stay tuned.