The regulatory landscape for credit union mortgage lending is undergoing seismic shifts, particularly at the Consumer Financial Protection Bureau. In this revealing policy episode, we explore Jonathan McKernan's unexpected withdrawal from the CFPB director nomination and redirection to Treasury, leaving Russ Vought to continue serving as acting director for potentially another 210 days under the Federal Vacancies Reform Act.

Our conversation with Policy Advisor AnnMarie Conboy-DePasquale of Brownstein Hyatt Farber-Schreck dives deep into the Bureau's recent dramatic pullback of 67 guidance documents, many from the Chopra era but some dating back to the Bureau's inception. This regulatory retreat includes withdrawing compliance bulletins on housing choice vouchers, COVID-era mortgage servicing guidance, and perhaps most significantly, policy statements that had expanded UDAAP interpretations and states' authority to enforce consumer protection laws.

The episode reveals how these changes align with the administration's commitment to eliminate ten regulations for every new one implemented. We also examine potentially massive funding cuts looming on the horizon, with House budget reconciliation proposals potentially slashing the CFPB's funding by approximately 60%, reducing its ability to draw funds from the Federal Reserve.

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What keeps you going after 30 years in the credit union industry? The answer lies in a carefully cultivated balance between professional passion and personal pursuits. Join ACUMA President Peter Benjamin and Victor Williams, Senior Vice President of Mortgage Lending at Randolph-Brooks Federal Credit Union, as they break down this balance.

With 25+ years focused on helping members achieve homeownership, Victor brings profound wisdom to the conversation about avoiding burnout while maintaining excellence. The mortgage industry presents a unique challenge that has nothing to do with complexity. As Victor and Peter discuss, what makes mortgage work demanding isn't complicated math or hard conversations - it's the cognitive load of many things we have to do AND remember daily. Understanding this distinction helps professionals develop targeted strategies for maintaining mental wellness.

For Victor, cycling provides essential mental decompression. Whether on road bikes, gravel, or mountain trails, these outdoor adventures sometimes extend to international cycling events, creating space for complete disconnection from work responsibilities. But not all recharging requires extended time away. Victor shares practical wisdom for those quick mental breaks during workdays: "You don't need to stare at the screen for eight hours. You're just destined for depression." Simple activities like walking around the block or playing a five-minute crossword puzzle can provide the mental reset needed to return refreshed.

What truly shines through this conversation is how Victor's unique personal interests (including an amusing story about his pet prairie dog) contribute to his well-rounded perspective and ability to maintain enthusiasm for his career decades in. These elements create not just balance but a full life that enhances his professional impact rather than detracting from it.

Join us for this refreshingly honest conversation about finding sustainable success in the credit union mortgage industry. Whether you're new to mortgage lending or a seasoned veteran, Victor's insights offer practical wisdom for thriving personally while serving members excellently.

The mortgage industry stands at a crossroads where diminishing regulatory oversight meets economic pressure, creating perfect conditions for a dangerous backslide in lending standards. Dan Sugg, Chief Mortgage Lending Officer with Michigan First Credit Union and a 31-year veteran of the industry, sounds a thoughtful alarm about the risks of regulatory cutbacks. Join him and Peter Benjamin, President of ACUMA on this thought provoking discussion surrounding the changes impacting the credit union mortgage industry, and what the future could look like if you don't stay vigilant.

Particularly concerning is the vulnerability of first-time homebuyers being approved at maximum debt-to-income ratios. Sugg shares a striking example: "We had members pre-approved in the morning that were denied in the afternoon based on their rate moving." This illustrates how precariously some borrowers are being qualified, with little buffer against economic changes.

As we navigate these changing times, staying engaged with industry associations, maintaining ethical standards regardless of the regulatory environment, and prioritizing sustainable homeownership over short-term profits will ensure we uphold what Sugg calls "the gold standard of home finance" worldwide. Tune in now to the conversation about protecting the foundation of American homeownership while ensuring fair access for qualified borrowers.