A whole generation of consumers has emerged from the Great Recession with varying degrees of damage to their personal finances and credit. With today's tighter underwriting and regulatory requirements, these families will need credit remediation and rehabilitation in order to re-enter the housing market.

Fifty-four Senate Democrats and Independents issued a letter to the president last week defending the Consumer Financial Protection Bureau (CFPB) and pledging to support the re-appointment of current director Richard Cordray. In their letter, Cordray's Senate supporters decried the opposition's efforts as an attempt to "weaken the CFPB through structural changes" from "a minority of Senators [who] do not support the existence of the agency." The issue of Cordray's nomination comes at a pivotal time for CFPB.