The securitization will pay off existing construction loans on 21 properties in 10 states while also creating a revolving facility to fund the remaining construction costs and acquire new properties.

Industry participants are worried the Trump administration is using a chainsaw, rather than a scalpel, in its deregulation efforts.

Sen. Tim Scott, R-SC, chair of the Senate Committee on Banking, Housing and Urban Affairs, said the move wouldn’t affect the CFPB’s existing ability to request funds from Congress.

The legislation cleared the House Committee on Financial Services with a 46-0 vote this week against opposition from credit bureaus.

Alarmed by the administration’s repeated references to ending the conservatorships of Fannie Mae and Freddie Mac, leading Democrats in the Senate are attempting to tap the brakes.

The bureau could rescind the 2014 loan originator compensation rule, likely creating challenges for the industry, according to attorneys.

The non-qualified mortgage market is growing in step with the gig economy, according to industry leaders.

Mortgage companies continue to rely on institutional investors to purchase their corporate note offerings. But borrowing costs are on the rise.

The CFPB has sent five regulations to the Office of Management and Budget for review, including the loan originator compensation and mortgage servicing rules.

The trade group said federal banking regulators have shifted from relying on evidence of intentional discrimination to bring redlining claims to using a “proportional distribution test.”