HousingWire reports Raj Date, deputy director at the Consumer Financial Protection Bureau (CFPB) will be leaving his post next year. As industry expert and consumer advocate, Date was the acting director from the inception of the agency in July 2011 until Richard Cordray took over the position. Mortgage Bankers Association (MBA) CEO David Stevens says Date was beneficial to the industry and the CFPB, and hopes Date is replaced with someone of equal caliber and ability. Meanwhile, leadership changes in Congress could have a large impact on the housing industry. The Senate Banking Committee has 12 Democrats and 10 Republicans with two Democrat spots open. Will Elizabeth Warren, the engineer of the CFPB, sit on this committee? Stevens points out Rep. Jeb Hensarling (R-TX) could become Chairman of the powerful House Financial Services Committee, and Rep. Maxine Waters (D.Calif.) may become the new ranking member of that committee. As MHProNews has learned, Stevens does not expect much in the way of regulatory alterations anytime soon, but is concerned about a possible new treasury secretary and the replacement for FHFA acting director Ed DeMarco.
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