Press Release


Title: Statement of David Stevens on Nomination of Richard Cordray as Director of the CFPB
Source:   MBA
Date: 1/24/2013

WASHINGTON, D.C. (January 24, 2013) – David H. Stevens, President & CEO of the Mortgage Bankers Association (MBA), issued the following statement regarding the nomination of Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB).
 
“As Director, Richard Cordray has proven himself to be thoughtful, balanced, open minded, accessible and communicative; attributes which are all critical to effectively leading the CFPB’s mission.  While we do not, and likely will not, always agree on the best approach to the agency’s rulemakings, the ability to debate and discuss the key elements of proposed and final rules, and to have meaningful dialogue, remains a testament to his leadership.
 
“The rules and regulations that the CFPB has released, and those still to come, will forever shape housing finance in this country.  As the housing market continues to recover, we need a steady, consistent voice at the helm, and Director Cordray has demonstrated a willingness and ability to listen and learn.”

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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 2,200 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. For additional information, visit MBA's Web site:   www.mba.org.