HUD Quietly Promotes Controversial Ex-CFPB Official – NMP Skip to main content

HUD Quietly Promotes Controversial Ex-CFPB Official

Phil Hall
Nov 08, 2019
Photo credit: Getty Images/marchmeena29

The Department of Housing and Urban Development (HUD) has reportedly promoted Eric Blankenstein to acting executive vice president at Ginnie Mae.
 
The Department of Housing and Urban Development (HUD) has reportedly promoted Eric Blankenstein to acting executive vice president at Ginnie MaeBlankenstein became the Consumer Financial Protection Bureau’s (CFPB) Policy Director of Supervision during Mick Mulvaney’s period as acting director, but he became the center of controversy after news emerged that he authored anonymous blog posts in 2004 which included a consideration on the racist resonance connected to the n-word. Mulvaney refused to fire Blankenstein, who issued a statement of regret to his colleagues, but the controversy did not subside and he left the agency on May 31. However, Blankenstein was hired at HUD in June as senior counsel in the Office of the General Counsel, and the department ignored calls from Capitol Hill Democrats including Sens. Elizabeth Warren (D-MA) and Sherrod Brown (D-OH) for the termination of his employment.
 
HUD did not issue a press statement on Blankenstein’s promotion, but the news site Politico obtained an internal agency email from HUD Assistant Secretary Seth Appleton, Ginnie’s principal executive vice president, that reported the news.
 
“Secretary [Ben] Carson and I have confidence in Eric as he assumes this new role,” Appleton wrote in the email to the HUD staff. “I am certain that Eric will be a strong advocate for the important work that you do before HUD’s leadership and within the administration.”
 
Blankenstein will also receive a slight raise, according to what Politico described as “a HUD official with knowledge of the matter.”

 

 
Published
Nov 08, 2019
MISMO Seeks Public Comment On 3 eMortgage Resources

Updates proposed to MISMO Business Glossary, eMortgage Glossary, and eModification Reference Flyer.

Regulation and Compliance
Aug 05, 2022
As Expected, The Fed Raises Rate By Another 0.75%

Experts say housing industry will shrug off the latest increase.

Regulation and Compliance
Jul 27, 2022
AmTrust Ends 'No-Poach' Agreement, Pays $1.25M Fine In Deal With N.Y. AG

Company also agrees to cooperate with ongoing investigations of the title insurance industry.

Regulation and Compliance
Jul 25, 2022
NAR Chief Economist: Nationwide Home Price Decline Won't Happen Soon

Lack of inventory continues to support growth in prices, which have increased year over year for 124 straight months.

Regulation and Compliance
Jul 22, 2022
FHFA Director: Fannie, Freddie Need $300B Combined In Capital

So far, the enterprises combined have built $83.5 billion in reserves, or about 27% of the target.

Regulation and Compliance
Jul 21, 2022
Expansion Of Community Reinvestment Act A Poor Fit For A Non-Problem

Equating non-bank mortgage companies to banks is misguided for several reasons.

Analysis and Data
Jul 20, 2022