The Federal Housing Finance Agency (FHFA) and the Conference of State Bank Supervisors (CSBS) have announced a collaboration aimed at enhancing the oversight of nonbank mortgage companies, particularly Independent Mortgage Bankers (IMBs). This partnership between the two regulatory bodies seeks to improve coordination and information sharing to ensure the stability and integrity of the mortgage industry.
Key points from the announcement include:
– FHFA and CSBS will work together to share critical information on nonbank mortgage companies, including IMBs.
– The collaboration is intended to strengthen oversight and supervision of these entities to mitigate potential risks.
– By improving coordination and communication, FHFA and CSBS hope to enhance regulatory efficiency and effectiveness in monitoring nonbank mortgage companies.
You can read this full article at: https://www.housingwire.com/articles/state-financial-regulators-and-fhfa-enter-mortgage-information-sharing-agreement/(subscription required)
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