Remove 2007 Remove 2024 Remove Translation
article thumbnail

Nonbank Mortgage Servicers: Proposing a Better Path to Reduce Their Risk to Financial Stability

The Stoop (NYU Furman Center)

Introduction The Financial Stability Oversight Council (FSOC) 1 published its “Report on Nonbank Mortgage Servicing 2024” 2 (the Report) earlier this year. 1 FSOC was created by the Dodd-Frank Act in response to certain regulatory failings revealed by the financial crisis of 2007-2009. 2 See [link]. government.

article thumbnail

The White House’s Focus on Closing Costs: Long Overdue and Worth the Fight (Part 2)

The Stoop (NYU Furman Center)

This translates into considerable clout in Congress and state legislatures. 21 See “Prepared Remarks of CFPB Director Rohit Chopra at the Mortgage Bankers Association,” May 20, 2024. 25 See Bankrate, January 3, 2024. million members – almost one percent of the entire U.S. labor force of 168 million. See [link].