MBA Offers Principles For Financial Reform

With the Dodd-Frank Act ushering in what the Mortgage Bankers Association (MBA) calls the ‘most significant financial overhaul since the Great Depression,’ the Washington, D.C.-based trade group has offered eight principles designed to help guide regulators through the financial reform process.

‘It is essential that this process unfold in a way that balances necessary reforms with the
need for preserving an efficient financial system,’ the MBA says.

The principles are as follows:

  • Seek comprehensive, coordinated solutions;
  • Foster certainty in the marketplace;
  • Increase transparency;
  • Balance the ability of the private marketplace to control lending with the application of new regulation;
  • Ensure market liquidity;
  • Appropriately tailor solutions to the current market environment;
  • Maximize competition to lower costs; and
  • Promote uniformity.

Click here to view the MBA's ‘Principles for Implementing Financial Regulatory Reform’ document.

SOURCE: Mortgage Bankers Association


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