MBA’s President and CEO Bob Broeksmit, CMB, released the following statement regarding the Financial Stability Oversight Council’s (FSOC) report released Friday on nonbank mortgage servicing:
Tag: FSOC
MBA Releases Statement on IMBs Following Congressional Hearings on FSOC’s Annual Report to Congress
MBA’s President and CEO Bob Broeksmit, CMB, released a statement in response to commentary made on independent mortgage banks during Congressional hearings on the Financial Stability Oversight Council’s Annual Report to Congress:
To the Point With Bob: FSOC’s Bid to Regulate Non-Bank Firms Will Harm Consumers, Mortgage Sector
This spring, the Financial Stability Oversight Council (FSOC) issued a proposal that would remove procedural requirements and allow it to fast-track the designation of non-bank financial companies as systemically important financial institutions (“SIFI”) subject to enhanced supervision by the Federal Reserve.