If you are in the mortgage, note or real estate business, you probably have heard of the Consumer Financial Protection Bureau – CFPB. This agency was created as part of the Dodd-Frank Act after the 2008 financial crisis, purportedly to be a watchdog and keep consumers safe from scrupulous mortgage lenders.
The issue to many in the broad mortgage and real estate field was that this agency operated unchecked and was accountable to no-one – not even the President of the United States. This unanimous decision by a Washington D.C. appeals court changes this.
To read this article and understand why the judges ruled as they did, go to:
www.housingwire.com/articles/38252-phh-wins-landmark-victory-cfpb-ruled-unconstitutional.