CFPB Staffing Levels Limit Impact of Trump's Mortgage Order, MBA Chief Says

Mortgage industry leader Bob Broeksmit warns that benefits of new executive order won't be felt immediately due to CFPB's current capacity constraints.

Mar. 18, 2026 at 1:53am

Got story updates? Submit your updates here. ›

In an interview at the ICE Mortgage Technology conference, Mortgage Bankers Association President and CEO Bob Broeksmit said the Consumer Financial Protection Bureau's staffing levels will limit the immediate impact of President Trump's new executive order aimed at expanding home lending by community financial institutions. Broeksmit also expressed skepticism about the mortgage industry becoming dominated by just a few large lenders, stating that the business remains relationship-driven despite the rise of digital lenders.

Why it matters

The executive order addresses mortgage regulations for smaller banks, but its implementation relies on the CFPB updating rules and policies. Broeksmit's comments suggest the agency's current capacity constraints could delay the order's intended effects. His remarks also provide insight into industry concerns about market consolidation and the balance between large and small lenders.

The details

Broeksmit noted the "enormous" volume of work the CFPB has been assigned under Trump's executive order, which he said the agency must oversee "no matter what kind of lender you are." He urged that any policy changes should apply across all lender types, not just banks below a certain asset threshold. Broeksmit also discussed the recent wave of mortgage industry consolidation, expressing doubt that the market will become dominated by just a few mega lenders, as he believes the business remains relationship-driven despite the rise of digital lenders.

  • The interview took place on Tuesday at the ICE Experience 2026 conference in Las Vegas.
  • President Trump issued the new executive order on home lending on Friday.

The players

Bob Broeksmit

President and CEO of the Mortgage Bankers Association.

Bob Hart

President of ICE Mortgage Technology.

Rohit Chopra

Former Director of the Consumer Financial Protection Bureau under President Biden.

President Trump

The current President of the United States.

Rocket

A major digital mortgage lender that has been involved in recent industry consolidation.

Got photos? Submit your photos here. ›

What they’re saying

“The volume of work that's been assigned to the CFPB in this executive order is enormous. They're the agency that controls it all no matter what kind of lender you are.”

— Bob Broeksmit, President and CEO, Mortgage Bankers Association

“We're urging all of these changes to apply to everybody, or in other words, fix it for everyone. That will help banks, but we want all capital sources to benefit because we want all borrowers to benefit.”

— Bob Broeksmit, President and CEO, Mortgage Bankers Association

“When you manage to market share instead of managing the risks, bad things happen.”

— Bob Broeksmit, President and CEO, Mortgage Bankers Association

What’s next

The CFPB will need to update its rules and supervisory policies in order for the changes outlined in President Trump's executive order to take effect.

The takeaway

Broeksmit's comments highlight the challenges the mortgage industry faces in implementing the new executive order, as the CFPB's current staffing levels may limit the immediate impact of the policy changes. His remarks also underscore broader industry concerns about market consolidation and the need to balance the interests of large and small lenders.