MBA Cautions Against FSOC Designations for Nonbank Mortgage Companies

Inside Mortgage Finance, Nov. 1, 2023–Brandon Ivey
On Nov. 3, the Financial Stability Oversight Council plans to discuss guidance on how the council of regulators will apply a “systemically important financial institution” designation to nonbank financial companies. The SIFI designation comes with heightened regulatory requirements. Bob Broeksmit, president and CEO of the Mortgage Bankers Association, raised concerns about SIFI designations and the potential to apply the designation to a mortgage company.
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