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Fed IG: CFPB office renovation skyrockets to $215 million

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« Fed provides supervisory guidance on Advanced Measurement Approach | Main | Inspector General reports cfpb renovation costs now exceed $215 million » July 02, 2014

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The CFPB, Fed, FDIC, FHFA, NCUA, and OCC have finalized a supplemental rule creating several exemptions to the appraisal requirements for higher-priced mortgage loans (HPML). Those requirements are. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

By 2012, the CFPB revised the projected cost to $95 million and again last year raised the estimate to $150.8 million. The CFPB’s renovations, which include a four-story glass staircase, two-story waterfall and a sunken garden, have angered House Republicans who say the agency is being wasteful with taxpayers’ money.

The CFPB faces major management challenges that could hamper its ability to accomplish its strategic objectives if they are not properly addressed, according to the Federal Reserve’s Office of the.

 · CFPB spent more than $215 million renovating its temporary office ($120 million over its initial estimate), making it one of the most expensive construction projects in the world. The Financial Services Committee

Estimated renovation costs for the rented headquarters of the Consumer Financial Protection Bureau have increased yet again, to approximately $215 million, according to a report from the Federal Reserve’s Inspector General Mark Bialek.

(Examiner/Graeme Jennings) The scathing report authored by IG Mark Bialek said there is no “sound basis” to support the controversial renovation. Unlike Congress, the Fed’s IG can review CFPB programs.

A CLINTON APPROACH FOR ANGRIER TIMES. the CFPB building renovation. From the post: “The Committee calculated the renovation cost per square foot by dividing the total renovation costs estimated by.

Thanks to Fannie, Freddie, the federal budget deficit looks less frightening Initial jobless claims rise by 12K to 293K However, continuing claims remain elevated, down just -12k to 3715k, which is consistent for a six figure nfp print. initial estimates h ave a figure south of -250k. Analysts are also forecasting a +0.Did the NSA spy on Middle East banks using the SWIFT network? The SWIFT network does not actually transfer funds, but instead it sends payment orders between institutions’ accounts, using SWIFT codes. SWIFT Code also known as Bank Identifier Code (BIC), are used by the SWIFT Network for those transaction and look like XXXXYYZZ (e.g. BARCGB22 for Barclays Bank in Great Britain).The Congressional budget office reported that the budget deficit is falling rapidly from its trillion-dollar-plus Rocky Mountain highs during President Obama’s first term. I estimate that the deficit will likely be $400 billion or lower this fiscal year, and that is a near $1 trillion improvement over four years.

The Consumer Financial Protection Bureau came under intense fire for its $215 million headquarters renovation in mid-2014. The bureau, a creation mandated by Dodd-Frank, vastly exceeded its budget on.

While the Inspector General reports the current estimated cost of CFPB’s building renovation is $215.8 million, the building was appraised in 2011 for just $153.7 million, according to an audit.

Washington Supreme Court: MERS cannot obtain foreclosure power without note MERS is a private company that tracks ownership of mortgage loans in the United States. MERS also is listed as owner of record of millions of mortgage loans and their paperwork. Given the size of MERS it’s inevitable that mortgage paperwork, such as loan promissory notes,