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Regulation

"The average term of a subprime auto loan for a new vehicle have increased every year since the crisis and is now at a length never seen before," said Steven Antonakes, the deputy director of the CFPB.
The Consumer Financial Protection Bureau may delay the Aug. 1 implementation deadline for new mortgage disclosure forms if vendors aren't ready, said CFPB Deputy Director Steven Antonakes.
FRESH APPROACH: The FHFA's new inspector general, Laura Wertheimer, aims to shine a spotlight on risks to Fannie and Freddie's business models.
There is no guarantee that Fannie Mae and Freddie Mac will remain profitable in the years ahead, raising the possibility of further draws from Treasury, according to a report from the Federal Housing Finance Agency's inspector general.

OPEN TO INTERPRETATION: "It's safe to say the CFPB is not a fan of marketing agreements, but that doesn't make them illegal," said attorney Phillip Schulman.
The agency's interpretation of a Respa rule could put an end to the long-standing practice of mortgage lenders paying real estate agents and homebuilders to send business their way.

"What does that mean to have two government guaranteed programs competing with each other?" said former FHFA chief Ed DeMarco, criticizing efforts by the FHA and GSEs to boost credit.
Ed DeMarco, the former chief regulator of Fannie Mae and Freddie Mac, warned that efforts under the Obama Administration to expand access to credit could risk repeating mistakes that led up to the crisis.

Recent White House overtures to promote the mortgage industry have come too late in Obama's presidency to spark more comprehensive reforms, said former Ginnie Mae and HUD official Robert Couch.
Negative attitudes in Washington toward the mortgage industry are starting to thaw, yet devising Fannie Mae and Freddie Mac's exit from conservatorship or charting the future of housing finance reform still will be tough.

"There shouldn't be a need for these kinds of programs," said FHFA Director Mel Watt, referring to loss mitigation programs like HARP and HAMP.
The Federal Housing Finance Agency won't keep renewing initiatives like the Home Affordable Refinance Program in perpetuity, even if it is extended again before it expires in December, Director Mel Watt said Wednesday.
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