CFPB's Interest In Mortgage Insurance Could Cost Industry

Law360, New York (August 8, 2012, 7:43 PM EDT) -- Recent probes by the Consumer Financial Protection Bureau into mortgage insurers show the fledgling agency will bring a certain vigor to enforcement in the market, but industry participants worry the CFPB's inexperienced staff may saddle them with costly inquiries into practices they don't fully understand.

The CFPB took over responsibility for enforcing the 1974 Real Estate Settlement Procedures Act from the U.S. Department of Housing and Urban Development under the 2010 Dodd-Frank Act, which also created the bureau.

Dodd-Frank did not give the CFPB more power...
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