Is the mortgage industry still safe? The Consumer Financial Protection Bureau (CFPB) has been ordered to halt all work while awaiting a new Trump-appointed director. While you may not often hear about this government agency, the CFPB plays a huge role in the mortgage industry and is the reason 2008-style lending practices have not been brought back to the market.

With uncertainty surrounding the CFPB—will it be downsized, shut down, or remain unchanged?—many in the mortgage and real estate industries are concerned about what’s next. Chris Willis, host of The Consumer Finance Podcast, joins the show to share how the Trump administration is thinking of restructuring the CFPB and limiting the scope of its protections.

Will the new CFPB director scale back some of the more inclusive mortgage lending practices or keep them the same? Could your bank account and credit card fees change due to a less strict CFPB directive, and what does this mean for YOU getting your next mortgage? This agency has bigger effects than many Americans realize, so we’re sharing what’s coming next.

In This Episode We Cover

The Consumer Financial Protection Bureau (CFPB) explained, what they do, and how they influence mortgage lending

Why the Trump administration is taking aim at this agency and halting work

The one piece of legislation protecting strict mortgage laws in America (could it be changed?)

The difference between Biden-led and Trump-led CFPB initiatives

How the CFPB affects your mortgages, credit cards, and bank accounts

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Join BiggerPockets for FREE

Sign Up for the On the Market Newsletter

Find Investor-Friendly Lenders

Dave's BiggerPockets Profile

On The Market 300 - Mortgage Rates Hit 2025 Low as Recession Fears Rise

The Consumer Finance Podcast

Grab Dave’s Newest Book, “Start with Strategy”

Jump to topic:

(00:00) Intro

(00:41) The CFPB Explained

(04:52) Taking Massive Financial Action 

(07:48) How the CFPB Affects Mortgages

(09:57) Will Trump Administration End It?

(15:35) Scaling Back the CFPB

(16:49) These Changes Affect Americans 

(20:06) What Investors Must Watch

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-303

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