A new report from the Consumer Finance Protection Bureau shows the agency is monitoring the plight of struggling renters and the multifamily rental marketplace. But the question is, according to a recent analysis from Trepp that was written by Mike Flood of the Mortgage Bankers Association, how far does the CFPB's jurisdiction extend?
The CFPB may well try to stretch its mandate—much like the Centers for Disease Control and Prevention did with its eviction moratorium—and the recent report makes clear it sees renters as consumers, many of whom are in need of protection. In particular, the report covers the multifamily market, eviction moratoria, and the ability of renters to make monthly payments.
"The CFPB was created in the aftermath of the 2007-08 housing crisis, and Congress uniquely equipped us to address the current looming housing crisis," CFPB Director Dave Ueijo said in a recent blog post. Where we can use our authority to keep people in their homes, we will."
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