In October, the Conference of State Bank Supervisors made a controversial move to issue a final rule with proposed prudential standards for nonbank mortgage servicers – standards that, if enacted, have some stakeholders worried.
The proposed rule addressed capital, liquidity, governance, policy related to entity survivorship and more.
But now, the Urban Institute is warning that the rule could have unintended consequences.
“Nonbank regulation should be structured in a manner that not only keeps the system safe and sound but maximizes efficiency by eliminating redundancy and inconsistency,” the Urban Institute wrote. “A fragmented regulatory regime that includes the federal government, details ⇒
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