Nonbank Mortgage Servicers: Proposing a Better Path to Reduce Their Risk to Financial Stability
The Stoop (NYU Furman Center)
NOVEMBER 11, 2024
1 FSOC was created by the Dodd-Frank Act in response to certain regulatory failings revealed by the financial crisis of 2007-2009. Even the FHFA, during 2010 and 2011, attempted to organize such a reform. By doing so, NMSs would operate more as pure mortgage FTPs, significantly reducing their ability to impact financial stability.
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