CRL Testimony to Senate Banking Committee : Preserve What Works, Reform What Needs Change

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Published: October 29, 2013

In this testimony and working paper presented before the Senate Committee on Banking, Housing, and Urban Affairs, Eric Stein, CRL Senior Vice-President, reminded lawmakers that consumer concerns must not be lost in proposed housing finance reforms. Key recommendations include: 

Preserving broad consumer access to credit

Requiring secondary market entities to serve a national market

Converting stock ownership of secondary market entities to mutual ownership; and 

Ensuring small and regional lenders remain competitive in the secondary mortgage market