RISMedia's Real Estate Magazine

JAN 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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RISMedia's REAL ESTATE January 2019 71 Kraninger, an Office of Management and Budget official, is succeeding Mick Mulvaney, who has been act - ing director of the organization for the past year. She was nominated by President Trump. In the housing industry, her confir - mation was met with support. "Kathy Kraninger is an intelligent, experienced administrator who has worked on a broad range of com - plex, high-profile issues over the course of her career," said Robert D. Broeksmit, CEO and president of the Mortgage Bankers Association (MBA), in a statement. "We look for - ward to working with her and antici- pate she will continue the Bureau's efforts to protect consumers by pro - viding financial institutions clear and understandable regulations accom - panied by appropriate compliance and implementation requirements." "The National Association of REALTORS®(NAR) applauds the Sen - ate's confirmation of Kathleen Kran- inger to lead the Bureau of Consumer Financial Protection, the agency tasked to ensure consumers' finan - cial interests are protected," said Shannon McGahn, senior vice presi - dent of Government Affairs at NAR, in a statement. "America's 1.3 mil - lion REALTORS® recognize the critical role the Bureau plays in maintaining the integrity of significant financial transactions like home purchases. Under Ms. Kraninger's leadership, we believe the Bureau will properly protect consumers and support businesses that help more individu - als achieve the American Dream of homeownership." In a letter in November, the MBA, NAR and more than 20 other groups urged the Senate to confirm Kran - inger, stating she will "not only be an asset to the Bureau, but also to Con - gress and the Administration to work together to strengthen our nation's housing industry." Kraninger was criticized for her inexperience in the months prior to the vote. Many anticipate that, as director, she will operate in the vein of Mulvaney, who has broadly made over the organization, including a bid to change its name. Mulvaney, who acts, also, as head of the OMB, was nominated by President Trump. RE Suzanne De Vita is RISMedia's online news editor. Email her your real estate news ideas at sdevita@rismedia.com. Kraninger Confirmed in Tight Vote I n a narrow 50-49 Senate vote, Kathy Kraninger was confirmed as director of the Consumer Financial Protection Bureau for a five- year term last month. by Suzanne De Vita

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