The pause was ultimately rescinded following court injunctions. In the meantime, participants in government-insured mortgage programs faced uncertainty.

The changes were set to take effect Feb. 5. Instead, HUD instituted a 90-day delay to review the final rule developed by the Biden administration.

The Trump administration has initiated an effort to end leases on office space used by the federal government. Some properties in commercial MBS have government leases but few deals face elevated exposures, according to S&P.

CFPB Director Rohit Chopra made a reputation as an aggressive and active regulator, going after bank overdraft charges, credit card late fees and big nonbanks’ wallet apps.

Former CFPB Director Kathy Kraninger said with GOP control of the House and the Senate, it’s possible that the Trump White House will revamp the structure of the CFPB.

A new report released by the bureau recommended several actions state regulators can take to “mirror” recent work done by the CFPB.

In his departure letter, Chopra said he knows the CFPB is "ready to work" with President Trump.

The two programs have been updated to promote innovation, competition, ethics and transparency.

Scott Turner, nominee for secretary of the Department of Housing and Urban Development, told senators during his confirmation hearing that Congress holds the purse strings.

Regulators in some states controlled by Democrats are poised to increase their oversight of consumer protection laws as the CFPB’s focus is expected to shift under the incoming Trump administration.