U.S. Treasury Secretary Janet Yellen emphasized the need for Congress to empower regulators to better oversee the nonbank mortgage sector, highlighting its unique risks to financial stability. The Financial Stability Oversight Council has recommended that Congress help promote the safety and soundness of this sector. Yellen noted that the vulnerabilities of nonbank mortgage companies could amplify shocks in the mortgage market, potentially undermining financial stability. This call to action follows the council's detailed outline of risks for the first time.
Hey @m3_melody is there risk in the nonbanking mortgage sector? Per Yellen “Put simply, the vulnerabilities of nonbank mortgage companies can amplify shocks in the mortgage market & undermine financial stability & the council has now laid this out in detail for the first time.” https://t.co/SjFNZsqlxX
U.S. Treasury Secretary Janet Yellen flagged risks posed to the mortgage market, as regulators released recommendations to address the sector's vulnerabilities. https://t.co/ELp4nzH9jq https://t.co/jwuq0IBH3B
US Treasury's Yellen says Congress should act on nonbank mortgage sector https://t.co/d5KTp36yb2 https://t.co/YSfvJzQmJj
⚠️ US TREASURY'S YELLEN SAYS CONGRESS SHOULD ACT ON NONBANK MORTGAGE SECTOR Full Story → https://t.co/hooBwr6UfE U.S. Treasury Secretary Janet Yellen on Friday called for Congress to give regulators more power to oversee the growing nonbank mortgage industry, which she said… https://t.co/bKphjH32Qb
Nonbank mortgage companies pose unique risks and vulnerabilities that can weaken financial stability, Treasury Secretary Janet Yellen said https://t.co/UPm2JICn4i
TREASURY'S YELLEN: US FINANCIAL STABILITY OVERSIGHT COUNCIL SET TO RECOMMEND CONGRESS HELP REGULATORS PROMOTE SAFETY, SOUNDNESS OF NONBANK MORTGAGE SECTOR
US TREASURY SEC. YELLEN: GROWING NONBANK MORTGAGE SECTOR PRESENTS UNIQUE RISKS, REQUIRES GREATER OVERSIGHT TO PROTECT FINANCIAL STABILITY