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Mortgage Originations: The Good, The Bad, And the Ugly in 2014

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64 | Th e M Rep o RT Final ThoughTs Final Thoughts The buzz in Washington is as hot as the temperature outside. Check out whose tongues are wagging. "If the economy is getting better, I'm not sure for whom. It certainly hasn't trickled down to me." — Douglas Hunter, a 53-year-old McDonald's employee from Chicago "Debit-card overdraft is a misunderstood, expensive, short-term loan for the consumer with low risk to the bank." — susan Weinstock, Director of the Consumer Banking Project at the Pew Charitable Trusts on the CFPB's investigation into the $30 billion that banks net annually in overdraft fees "Until we see real wage growth, we're not really seeing the improvement we need to see." — tiM Hopper, chief economist for TIAA-CREF on the recovery "This is one of the three legs of the stool from Dodd- Frank, and they just had it kicked out from under them." — prof. cornelius Hurley, director of the Boston University Center for Finance, Law & Policy, on the infeasible bankruptcy plans, or "living wills," of megabanks "A sentence of 36 months will send a message to public, private and quasi-public officials that they must be honest in the performance of their duties." — Assistant United States Attorney stepHen J. goorvicH, on sentencing a quasi-public official for soliciting kickbacks "Coming out of such a severe financial crisis, we did not know what the volume or intensity of complaints would be." — CFPB Director ricHarD corDray, on more than 400,000 complaints filed by consumers over three years "When you have a market that's overheating, as we have here, there's nothing to curb it." — nancy Wallace, co-chair of the Fisher Center for Real Estate and Urban Economics at the University of California, Berkeley, on the runaway home prices in San Francisco

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