This industry can seem boring, very very boring. The CFPB, financial reform, and marginal differences in statistics must always be coupled with a few juicy stories to keep us awake. Scandals like Fannie Mae's new office, another cyber-scare at Equifax, or even an honest explanation for why someone joined this industry in the first place are all reasons to rejoice that it's Friday in the mortgage industry.
October 13, 2017
- The Trump Administration is challenging a new rule set by the CFPB that's to take effect in 2018. The rule lets Americans bring class-action lawsuits against banks, instead of being forced into arbitration.
- Fannie Mae and Freddie Mac don't appear to be impacted by the cyber attack on Deloitte, one of the world's largest accountacy firms.
- The U.S. Department of Treasury released the second of its four reports last week. It includes extensive financial reform that could mean a weaker Dodd Frank.
- Fannie Mae's new office raises eye brows.
- Equifax took down a customer help webpage yesterday after an independent security analyst flagged the page for redirecting customers to a fake Adobe Flash update. After investigating, Equifax says its systems were not hacked.
- The growing tech innovations in our industry may be a byproduct of the increased government regulation. Maybe it isn't so bad afterall.
- Read why someone would leave Spotify (the millenial's #1 choice on music streaming) to join arguably the most boring industry, mortgage.
At least it's Friday!