MBA Statement on Resignation of CFPB Director Richard Cordray

MBA Statement on Resignation of CFPB Director Richard Cordray

WASHINGTON, D.C. (November 16, 2017) – (RealEstateRama) — David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association, released the following statement regarding the resignation of Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB):

“I want to congratulate Director Cordray on a successful tenure at the CFPB. He came into the position during a tumultuous time and was successful in solidifying the role the bureau plays in protecting consumers. As we now pivot to the nomination of a new director, it will be imperative that someone is chosen who can provide a balance between the rulemaking process and the need for clarity and consistency in the direction and guidance given to lenders across the country.”

CONTACT
Rob Van Raaphorst

(202) 557- 2799

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The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,400 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

Contact:

Mortgage Bankers Association
1331 L Street, NW
Washington, DC 20005

Phone: (202) 557-2700

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