Are your underwriters this fast? The current Administration has been fast to ax groups of employees in various government departments, including the Agencies. The Supreme Court challenged 90 years of precedent and has decided that firings of government agency members will stand (including, of interest to lenders, the CFPB) as the cases work their way through the lower courts, giving the President unfettered power to oust regulators without good cause. However, SCOTUS spared the Federal Reserve in the ruling, writing that the Fed is “uniquely situated” and unlike other government agencies. Justice Elena Kagan sharply dissented, writing that the court’s ruling was “nothing short of extraordinary” giving President Trump the power to fire the heads of government agencies while sparing the Federal Reserve. In other legal news of interest to lenders, a Hawaiian woman pleaded guilty last week to defrauding her mortgage lender and conspiring to defraud the IRS. Yes, it happens even in a wonderful place like Hawai’i. (Today’s podcast can be found here and this week’s is sponsored by Calque. Calque provides a binding backup offer on your borrower’s departing residence to clear the existing mortgage balance and closing costs in 48 business hours or less. And it costs less than other buy before you sell solutions. Hear an interview with Bill Dallas on evolving business models, game-changing innovations, leadership lessons from past cycles, and how to build a more inclusive, tech-driven mortgage system from the ground up.)