GENERAL SESSION: A Discussion with Director Chopra

Robert D. Broeksmit, CMB

President & Chief Executive Officer, Mortgage Bankers Association

Robert D. Broeksmit, CMB, is MBA’s President and Chief Executive Officer. He is a senior finance executive and corporate officer with over 30 years of experience in the mortgage sector. He has directed all aspects of lending activities, including marketing, sales, operations, secondary marketing, loan servicing, and default management. He has also served as a mortgage underwriting expert testifying on many large, high-profile cases. Prior to joining MBA, Broeksmit served as President and Chief Operating Officer with Treliant, heading the firm’s mortgage litigation support practice. He previously held senior leadership positions in the mortgage business, including 14 years with Chevy Chase Bank (including after its purchase by Capital One) and 7 years as Vice President at Prudential Home Mortgage. He has overseen annual originations of $9 billion, a balance sheet of $10 billion in residential mortgage, and a servicing portfolio of $20 billion. He is past Chairman of MBA’s Residential Board of Governors and a member of its Board of Directors.

The Honorable Rohit Chopra

Director, Consumer Financial Protection Bureau (CFPB)

Rohit Chopra is Director of the Consumer Financial Protection Bureau. The CFPB is a unit of the Federal Reserve System charged with protecting families and honest businesses from illegal practices by financial institutions, and ensuring that markets for consumer financial products and services are fair, transparent, and competitive. As Director, Chopra is also a member of the Board of Directors of the Federal Deposit Insurance Corporation and the Financial Stability Oversight Council. In 2018, Chopra was unanimously confirmed by the U.S. Senate as a Commissioner on the Federal Trade Commission, where he served until assuming office as CFPB Director. During his tenure at the FTC, he successfully worked to strengthen sanctions against repeat offenders, to reverse the agency’s reliance on no-money, no-fault settlements in fraud cases, and to halt abuses of small businesses. He also led efforts to revitalize dormant authorities, such as those to protect the Made in USA label and to promote competition. The Director previously served at the CFPB from 2010 to 2015. In 2011, the Secretary of the Treasury designated him as the agency’s student loan ombudsman, where he led the Bureau’s efforts on student lending issues. Prior to his government service, Chopra worked at McKinsey and Company, the global management consultancy, where he worked in the financial services, health care, and consumer technology sectors. Chopra holds a BA from Harvard University and an MBA from the Wharton School at the University of Pennsylvania.