| Oct 17, 2012 12:03PM The Mortgage Bankers Association has sent a letter and supporting materials to the Consumer Financial Protection Bureau providing its opinion on the CPFB's proposed rule on mortgage loan originator (LO) compensation and qualifications . CFPB's proposal would augment the existing rules issued by the Federal Reserve Board (Board Rules) with similar provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The principal difference between the Board Rules and Dodd-Frank is that the... Oct 17, 2012 10:27AM In 2011 the two government sponsored enterprises (GSEs) pursued deficiencies following foreclosures in the amount of headline.1 billion but collected only 4.7 million from defaulted borrowers. Many of these deficiencies are uncollectible because the borrowers lack any financial resources to collect against, but some borrowers may now or in the future have the ability to repay such as owners of investment properties or vacation homes or borrowers who defaulted strategically rather than continue payments...
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