"But a brief submitted to the Court from the Mortgage Bankers Association, the National Association of Home Builders and the National Association of Realtors warned the court that a ruling that goes beyond the payday lending issue and questions the constitutionality of the CFPB's rules and regulations could be highly disruptive to the U.S. economy.
The three organizations are clear to say that their involvement in the case is not in support of either of the parties involved but is simply to warn the Court about the potential ramifications of their ruling.
"[We] submit this brief to highlight the potentially catastrophic consequences that a decision drawing those rules into doubt could have on the mortgage and real-estate markets," the brief reads. "Thus, this Court should take care not to call into question current CFPB regulations, including those governing the real-estate financing industry, which could lead to immediate and intense disruption to the housing market, harming both consumers and the broader economy."
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