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

October 29, 2013
Mortgage Lending

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