Industry NewsMortgage

Lenders wary of financial reform

House, Senate take different approaches on risk retention
Published on May 21, 2010

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by CareyBot

The financial reform bill passed by the Senate Thursday would exempt lower-risk, single-family mortgages from additional risk retention requirements aimed at ensuring that mortgage lenders keep some "skin in the game" when they package loans for sale to investors.

The Mortgage Bankers Association welcomed the Senate's approach on that issue, saying it would help facilitate a quicker recovery of housing markets.