Morning Roundup (2/10/25) – CFPB Shuttered
| Good Morning! Today is Monday, February 10. The Eagles won the Superbowl, defeating the Chiefs 40-22. President Trump announced a 25% tariff on all steel and aluminum imports. He ordered the Treasury to stop minting new pennies. The Mortgage Note Reports Superbowl Sunday: Rocket unveiled its much anticipated new ad during the game and made history with an entire stadium sing-along. Falling In Love: With Valentine’s Day coming up this week, writer Chuck Green spoke with industry professionals about couples who fall in love with a home. CFPB Shuttered: The Consumer Financial Protection Bureau was effectively shuttered over the weekend. |
| Quote Of The Day “The CFPB has been largely dormant in recent years, but in late 2024, they ramped up enforcement as if they anticipated a regulatory shift… Violations today are at their highest levels in primary mortgage origination, and the ethics are lower than they were during the subprime lending days before 2008.” Andy Harris, founder of Vantage Mortgage Brokers, on CFPB Shut Down |
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In other mortgage and housing news… GSE Future: Treasury Secretary Scott Bessent said that any release of Fannie and Freddie from conservatorship would depend on the implications for mortgage rates. BOA Grab: Bank of America will buy a $9 billion portfolio of residential mortgage loans from TD Bank. Mixed Emotions: Consumers are feeling better about the housing market despite growing concerns over rates and rents. Vacant Properties: Foreign-owned homes are sitting empty in LA, a sore spot in the aftermath of recent destructive fires. Path Forward: Atlanta Mayor Andre Dickens is using the city’s own land and resources to create new development opportunities as the housing shortage continues. |