Mark Calabria is the latest addition to the leadership roster at the Consumer Financial Protection Bureau (CFPB), despite the bureau’s near shutdown. Calabria, director of the FHFA in President Trump’s first term, will be serving a key role at the CFPB until Jonathan McKernan is confirmed as the permanent director. That’s according to tweets from Andrew Ackerman of the Washington Post and Brendan Petersen from Punchbowl News on Wednesday afternoon.Ackerman tweeted that Calabria started today at the Office of Management and Budget (OMB) and that “He will be detailed to the Consumer Financial Protection Bureau until Jonathan McKernan is confirmed as the bureau’s new director.”Petersen confirmed the news, tweeting that Calabria “told an audience at the Exchequer Club today he will be detailed to the Consumer Financial Protection Bureau as part of OMB.”The addition of Calabria caps off several volatile weeks at the bureau. Trump fired CFPB Director Rohit Chopra on Feb. 1 and named Treasury Secretary Scott Bessent as interim director on Feb. 3. Five days later, Russell Vought took over that role and ordered staff to stop work, closing the headquarters and trying to shut off its funding. On Feb. 11, Trump named McKernan to the director role.Calabria’s OMB roleCalabria is currently senior advisor at the libertarian Cato Institute. In addition to his previous role at FHFA, Calabria also served as chief economist to Vice President Mike Pence, as senior professional staff for the Senate Committee on Banking, Housing and Urban Affairs, and as deputy assistant secretary for regulatory affairs at HUD.Calabria’s interim stint at CFPB could be part of a much bigger role he will play at OMB. Ackerman also tweeted that he had “heard [Calabria] has been charged with bringing all the independent agencies into the OMB.” That’s a reference to Trump’s executive order on Tuesday that seeks to “rein in” all the independent agencies under his more direct control.The executive order lists the Federal Trade Commission (FTC), Federal Communications Commission (FCC), Securities and Exchange Commission (SEC) and the Federal Reserve. “Now they will no longer impose rules on the American people without oversight or accountability,” the order reads.What Calabria envisions for the CFPBIn an interview with HousingWire Senior Reporter Flavia Nunes in July, Calabria spoke about how the CFPB might change under a Trump administration.“I don’t think the CFPB is going away — as much as that would be nice. But I do think you are going to see a difference in the stance, which will matter in the mortgage industry, in terms of enforcement and obligations. The Republicans’ approach to the CFPB is to say that there are wrongdoers; we will go after the bad guys. This [Biden] administration says the same thing, and that’s where the overlap is. The difference is this [Biden] administration also has the view that we’re going to use the CFPB to pick winners and losers to redistribute to our friends and engage in a lot of social engineering. And that’s a much different approach from just going after the bad guys,” Calabria said.“Writ large on compliance and regulatory costs, Trump’s CFPB will be considerably lower. Post Dodd-Frank, one of the problems has been that it costs so much more to originate loans. A tremendous amount of that is because of regulatory costs. It’s not like the bad guys get to run wild; you’d still see enforcement.”Bureau faces lawsuitsThe CFPB is currently facing two lawsuits over the Trump administration’s actions. A lawsuit brought by the City of Baltimore and the Economic Action Maryland Fund (EAMF) that was filed on Feb. 12 has stalled Vought’s efforts to cut off the bureau’s funding. On Feb. 13, the plaintiffs and defendants in the suit filed a joint motion stating that they’ve agreed to a preliminary injunction on any efforts by the CFPB or Vought to disrupt funding or shut down the department. The injunction expires on Feb. 28.In a separate lawsuit filed late last week, a federal district court judge temporarily prohibited the Bureau from laying off more staff until March 3 at the earliest. District Court Judge Amy Berman Jackson also barred the CFPB from “deleting” or “removing” data and from transferring money in its reserve fund.

MLS; Realtor.comA British billionaire’s astonishing legacy compound in Manalapan, FL, has made a dramatic move onto the market for the jaw-dropping price of $150 million—shooting it straight to the top of the most expensive homes list (by quite a drastic margin).The modern Balinese-inspired estate, which businessman Chris Rokos picked up in 2017 for a record-breaking $40 million, sits on 2.83 acres spanning the Atlantic Ocean and the Intracoastal Waterway.Now, in a sign of the growing interest in the greater Palm Beach area, Rokos is seeking to more than triple his investment.Built in 1972, the 29,485-square-foot estate was reimagined in 2015. It boasts a wine room, game rooms, a home theater, library, ocean-facing office, seven oceanfront suites, and two garden suites.Other eye-popping abodes this week include a 35.32-acre mountain property in Malibu, CA, with Pacific Ocean views, two co-op buildings in Manhattan, and a Los Angeles estate surrounded by botanical gardens, a croquet lawn, and waterfalls.10. 88041 Old Hwy, Islamorada, FLPrice: $42,000,000Florida Keys: This six-bedroom “secluded paradise” sits on a 5.07-acre peninsula, where there’s room to add a helipad or Tiki bar.Built in 2017, the 9,843-square-foot estate has an open floor plan with a two-story living room, a wood-paneled office, and a wine cellar with a tasting area.The spacious property also has covered verandas, a four-bay garage, a private saltwater pond, a secluded beach, a resort-style pool with a waterfall grotto, a sport court, and a dock with two boat lifts.Islamorada, FL(Realtor.com)9. 2415 Casas De Marbella Dr, Palm Beach Gardens, FLPrice: $47,500,000Oro: This newly built compound boasts four residences, a security hut, a six-car “trophy” garage, and a tennis court.The 14,028-square-foot contemporary with Intracoastal Waterway frontage is being offered fully furnished. Highlights of the six-bedroom estate include smart home automation, a massage room, sauna, wine lounge, fitness center, and media room.The 1.08-acre lot has a lap pool, fire pit, sundecks, covered terraces, an outdoor kitchen, and a private boat dock.Palm Beach Gardens, FL(Realtor.com)8. 217 W 57th St Apt 110, New York, NYPrice: $47,900,000Central Park Tower: This full-floor condominium debuted on the market just last week for $62.5 million before receiving a huge price chop.Located in the tallest residential building in the world built in 2020, this five-bedroom unit features “forever views” from Central Park to the Manhattan skyline and beyond.The 7,074-square-foot open floor plan has a “formal reception gallery,” a grand salon, and a primary suite with a sitting room.The $13,018 monthly HOA fee provides access to the private Central Park Tower Club, which offers a saltwater pool, an outdoor movie theater, an indoor lap pool, a fitness center, a spa, a sauna, and a screening room.New York, NY(Realtor.com)7. 2930 Sweetwater Mesa Rd, Malibu, CAPrice: $48,000,000Brand-new construction: Nestled in the gated Serra Retreat above Malibu Pier, this 35.32-acre mountain property offers unparalleled Pacific Ocean views.“Nearing completion” and awaiting interior finishes, the shimmering six-bedroom mansion offers a chef’s kitchen with a private entry, a home theater, a primary suite with a sitting room and private terrace, a fitness center, and a spa.The property comes with a “grand-scale” pool, a hot tub, an outdoor conversation area with a waterfall, an amphitheater, a detached guesthouse, and space for a sport court.Malibu, CA(Realtor.com)6. 12-14 E 64th St, Manhattan, NYPrice: $54,000,000Two co-op buildings: This Upper East Side structure offers the unique opportunity to “create a landmark residence” just steps away from Central Park.The Manhattan townhome with 14,400 square feet of living space “provides the perfect foundation for a grand vision” to create a “timeless masterpiece.” The mansion has nine bedrooms, grand-scale entertaining areas, and even space for an indoor pool.The proposed floor plan for the seven-story structure also includes a lower-level wine room and a rooftop patio.Manhattan, NY(Realtor.com)5. 1519 N Ocean Way, Palm Beach, FLPrice: $54,900,000North End Dunes: This 1.81-acre beachfront estate last traded hands in 2019 when the co-founder of a Greenwich-based hedge fund purchased it for $15.95 million.Built in 1936, the 10-bedroom structure was inspired by a European villa. It offers the potential to “renovate or build new.” The 9,136-square-foot interior features arched doorways, a grand curved staircase, several fireplaces, and a primary suite with a private terrace.The wraparound covered lanai and balconies overlook the in-ground pool and “most private beach on the island.”Palm Beach, FL(Realtor.com)4. 111 W 57th St Ph 72, New York, NYPrice: $56,000,000Billionaires Row tower: This triplex penthouse in the sky offers a full-floor outdoor loggia, a great room with Central Park views, and an upper-level primary suite with a “dressing hall” and wet bar.The 7,256-square-foot residence comes with a private elevator, a chef’s kitchen with high-end appliances, a media room, and floor-to-ceiling windows.Ornate details include a polished-nickel bathtub, guest quarters with Cristallo gold quartzite bathrooms, and a powder room with a jewel onyx stone vanity.Community amenities include concierge service, a swimming pool with private cabanas, a fitness center, a sauna with treatment rooms, and a private club space with dining.New York, NY(Realtor.com)3. 1160 S Ocean Blvd, Manalapan, FLPrice: $87,000,000Newly unveiled: This 18,108-square-foot estate sits on nearly 2 oceanfront acres. It comes with a climate-controlled 13-car garage, a two-bedroom guesthouse, and a private dock with two boat lifts.Offering views of the Atlantic Ocean and the Intracoastal Waterway, the mansion recently underwent a renovation. It made way for a grand entry hall, a dining room with a bar, a catering kitchen, and a full-wing primary suite.Other highlights include three first-floor guest suites, and the lower-level entertainment area features a home theater, wine room, wellness center with a steam room, and staff accommodations.The 1.71-acre lot includes 160 feet of ocean frontage and a pool with a cabana.Manalapan, FL(Realtor.com)2. 729 Bel Air Rd, Los Angeles, CAPrice: $120,000,000Villa dei Fiori: This 18,784-square-foot estate said to be owned by the widow of oil heir and businessman Robert Day is said to have an “illustrious history of hosting U.S. presidents and dignitaries.”Built in 1972, the nine-bedroom “Villa of Flowers” inspired by the homes on the Amalfi Coast originally hit the market last year with an asking price of $150 million. Offering views from the San Gabriel Mountains to downtown Los Angeles, the Bel-Air residence boasts a wood-paneled library, a dining room with 18th-century French wallpaper, a lower-level wine cellar with a bar, and a primary suite with an arched loggia.The 3.32-acre property consisting of three legal lots is surrounded by botanical gardens, a rose garden, waterfalls, a croquet lawn, a padel court, and two guesthouses.Los Angeles, CA(Realtor.com)1. 1370 S Ocean Blvd, Manalapan, FLPrice: $150,000,000Modern Balinese-inspired compound: Offered fully furnished, this nine-bedroom estate last traded hands in 2018 for $40 million.Located on a barrier island south of Palm Beach, the 29,485-square-foot “completely reimagined” megamansion boasts many recent upgrades. They include a home theater, salon, fitness center, library, wine room, and game rooms. Designed for entertaining, the oceanfront residence has a grand-scale living room, a built-in bar, and a primary suite with an ocean-facing terrace.The 2.83-acre lot also has two garden suites, an in-ground pool with a waterfall grotto, and a 10-car auto showroom.Manalapan, FL(Realtor.com)

The newest senior leaders of the Consumer Financial Protection Bureau (CFPB) might not be anticipating long-term employment.Jeffrey Clark was appointed as senior advisor to Mark Paoletta, the CFPB’s new chief legal officer. Both had a tenure at the Center for Renewing America, a conservative think-tank founded by Russell Vought that has advocated for the agency to be dissolved. American Banker first reported the news of Clark’s appointment over the weekend.Clark was a former acting assistant attorney general in the first Trump administration’s Department of Justice’s who allegedly helped Trump overturn the 2020 presidential election. He was indicted in Georgia and survived an effort to be disbarred in Washington, D.C. The indictment was later dropped. Vought is now the confirmed head of the Office of Management and Budget (OMB) and the acting head of the CFPB until Jonathan McKernan is confirmed by the Senate. Clark’s appointment comes at a tumultuous time for the agency, whose workers have been ordered by Vought not to work in any capacity. Vought also sought to shut off the bureau’s funding, but a lawsuit brought by the City of Baltimore and the Economic Action Maryland Fund (EAMF) that was filed on Feb. 12 has stalled that effort. On Feb. 13, the plaintiffs and defendants in the suit filed a joint motion stating that they’ve agreed to a preliminary injunction on any efforts by the CFPB or Vought to disrupt funding or shut down the department. The injunction expires on Feb. 28.In a separate lawsuit late last week, a federal district court judge temporarily prohibited the Bureau from laying off more staff until March 3 at the earliest. District Court Judge Amy Berman Jackson also barred the CFPB from “deleting” or “removing” data and from transferring money in its reserve fund. HousingWire looked looked at McKernan’s record and what kind of agency he would potentially lead.For a complete timeline of what’s happened at the CFPB since Trump’s inauguration, see here.